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Sep 14 - 01:55 PM

USD/CAD - Off Post-CPI Highs, Hovers Near 2022 High Amid Hawkish Fed Hike View

By Paul Spirgel  —  Sep 14 - 11:40 AM
  • USD/CAD soft into Europe close -0.2% at 1.3150; Wd range 1.3206-1.3139

  • USD unable to hold post-CPI gains; though pair remains near 2022 highs

  • Hawkish Fed rate hike view keep USD bid, BoC seen at 3.91 by Dec 2022

  • Fed seen at 4.24% by Dec 14 meeting, 4.39% by Mar 22 2023 meeting IRPR

  • $CAD supt at 1.3139 Wed low, 1.3112 10-DMA, 1.3055 21-DMA

  • Res 1.3192 upper 21-Hr Bolli, 1.3205 Wed high, 1.3224 2022 high Jul 14

Source:
Refinitiv IFR Research/Market Commentary

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