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Mar 15 - 01:55 PM

USD/CAD - Eyes 2023 High 1.3861 On Renewed Bank Contagion Fears, Commodity Slide

By Paul Spirgel  —  Mar 15 - 11:40 AM
  • USD/CAD ending Europe +0.84% at 1.3802; Wednesday range 1.3814-1.3662

  • Banking contagion round 2 ensnares Credit Suisse, stirs USD haven bid

  • Global growth outlook austere, oil -4.9%, copper -3.1% exacerbates CAD dip

  • $CAD res 1.3814 Wed high, 1.3861 Mar 10's 2023 high, 1.3876 upper 21-d Bolli

  • Supt 1.3757 100-HMA, 1.3724 10-DMA, 1.3636 38.2% Fib of 1.3273-1.3861

  • Bulls firmly in control above 10-DMA, close below 1.3567 50% Fib shifts momentum to USD bears

Source:
Refinitiv IFR Research/Market Commentary

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