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Nov 13 - 11:55 AM

USD/CAD - Remains Steady Near Trend Highs Amid Symmetrical Fed, BoC Policy View

By Paul Spirgel  —  Nov 13 - 10:55 AM
  • $CAD hold slight gain in early NY, +0.08% at 1.3817, Mon range 1.3832-1.3789

  • Commodities rise tempers CAD dip; oil +0.9%, copper +1.6%

  • Tues US CPI on tap; Rtrs f/c core y/y steady at 4.1%, HL 3.3% vs 3.7% pvs

  • IRPR on Eikon indicates Fed, BoC both done hiking; both seen cutting H2 2024

  • Similarly steady c.banks not likely to move either CCY from current lvls

  • $CAD supt 1.3780 the 10-DMA, 1.3765 50% Fib pf 1.3899-1.3630, 1.3677 10-WMA

  • Res 1.3855 Nov 10 high, 1.3899 2023 high Nov 1, 1.3907 upper 21-d Bolli

Source:
Refinitiv IFR Research/Market Commentary

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