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Mar 06 - 01:55 PM

USD/CAD - Slips After ADP, Powell Testimony, Less-Dovish BoC Hold

By Paul Spirgel  —  Mar 06 - 11:35 AM
  • $CAD slips 0.6% to 1.3512 in NorAm trading; Wednesday range 1.3600-1.3510

  • Relatively dovish Powell testimony, ADP weighs on USD; less-dovish BoC hold

  • Macklem: can't put timing of cuts on calendar; cuts at lower pace than hikes

  • Next up jobless claims Thursday, U.S. payrolls on Friday; see LSEG EM page

  • $CAD res 10-HAM at 1.3564, 1.3606 2024 high Feb 28, 1.3619 Dec 7 2023 high

  • Support 1.3515 21-DMA, 1.3510 Wed's post-hold low, 1.3477 200-DMA

Source:
Refinitiv IFR Research/Market Commentary

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