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Sep 10 - 01:55 PM

USD/CAD - Peeks Above 1.36 Amid Deep Commodity Slide

By Paul Spirgel  —  Sep 10 - 12:05 PM
  • $CAD firm in early NY, +0.34% at 1.3604; Tuesday range 1.3615-1.3557

  • Soft commodities in absence of CA/US data weighs on CAD; oil -3%, copper -1%

  • Wednesday's U.S. CPI in focus for clues at pace of Fed easing

  • LSEG's IRPR indicates 31% odds for -25bp Fed in Sept; -114bp by Dec meeting

  • BoC seen cutting in Oct, -62bp by YE 2024, in addition to 50bp cuts already

  • Res 1.3615 Tues high, 1.3648 daily base line, 1.3693 50% of 1.3946-1.3441

  • Supt 1.3587 200-DMA, 1.3557 Tuesday daily low, 1.3526 rising 10-DMA

Source:
Refinitiv IFR Research/Market Commentary

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