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Jul 28 - 01:55 PM

USD/CAD - Drifting Lower After Less-Hawkish Fed Rate Hike

By Paul Spirgel  —  Jul 28 - 11:45 AM
  • USD/CAD steady into Europe cls, +0.11% at 1.2837; Thurs range 1.2869-1.2795

  • Pair consolidating below 55-DMA at 1.2855, key Fib 1.2871

  • Risk tipped lower after less-hawkish Fed; BoC rate path higher than Fed

  • Oil rise, US GDP miss possibly sending US into recession boosts CAD

  • $CAD support at lwr 21-dBolli/100-DMA by 1.2776, 200-DMA 1.2721

  • Res falling 10-DMA 1.2894, Jul 25 high 1.2945, Daily Kijun line 1.3009

  • Canada, U.S. inflation in focus for potential shifts in c.bank rate paths

Source:
Refinitiv IFR Research/Market Commentary

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