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Aug 23 - 01:55 PM

USD/CAD - Soft After More-Dovish Powell Hints At September Fed Cuts

By Paul Spirgel  —  Aug 23 - 11:45 AM
  • $CAD slips in early NorAm, -0.8% at 1.3508; NorAm range 1.3592-1.3507

  • Powell J-Hole talk seen opening door to Sept cut, size/pace data dependent

  • Focus shifts to U.S. payroll data Sept 6 ahead of Fed meeting Sept 18

  • Commods rise in lower rate outlook; oil +1.6%, Copper +1.5%, XAU +1.3%

  • Res 1.3534 lower 21-Hr Bolli, 1.3616 Friday high, 1.3653 falling 10-DMA

  • supt 1.3502 Friday low, 1.3479 Apr 4 flash low, 1.3471 61.8% Fib of 1.3177-1.3946

Source:
Refinitiv IFR Research/Market Commentary

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