By Randolph Donney — Dec 08 - 02:35 PM
USD/CAD fell 0.5% after a rejection away from Wed's pre-BoC 1.3700 peak
Thur's 1.3690 high at 61.8% of Oct-Nov drop was roundly rejected
Haven USD was down broadly as U.S. stocks recovered some recent losses
BoC's dovish rate hike Wed is now priced as possible pinnacle for rates
BoC Deputy Governor Sharon Kozicki affirmed data-dependency nBCL8NEI3K
Tsy-CGB yield spreads remain supportive, but off their Oct-Nov peaks
Worry for dollar is Fed over-tightens and has to retreat in H2 2023
Pair is negatively correlated to S&Ps, risk-acceptance
China reopening hopes weighed against new outbreak risks nL8N32Y07P
The daily on-close pivot point is Tuesday's 1.3558 low
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary