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Mar 22 - 01:55 PM

USD/CAD - Hovers Near Flat After Early Test Of Support Sub-1.26

By Paul Spirgel  —  Mar 22 - 12:15 PM
  • USD/CAD firm into Europe close +0.08% at 1.2605; Tues range 1.2623-1.2573

  • Commodities dip weighs on CAD, USD firm amid rising UST rates

  • Rates not all good for USD, late 2023 cut view tempers USD rise 0#ED:

  • BoC seen keeping pace w/Fed +192bp by Dec meets BOCWATCHFEDWATCH

  • $CAD support 1.2573, Tues low, then lower 21-d Bolli at 1.2561

  • Close abv 200-DMA 1.2611 dents bearish structure, though bears in control

  • USD bulls gain control above 1.2722, 50% Fib of 1.2872-1.2573

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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