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Oct 25 - 01:55 PM

USD/CAD - Gain Tempered By Rising Commodities, Hawkish BoC Tones

By Paul Spirgel  —  Oct 25 - 11:52 AM
  • USD/CAD hover near flat, +0.04% at 1.2372, Mon range 1.2388-1.2339

  • Pair tests 10-DMA/Tenkan resistance by 1.2380/84 slips a touch lower

  • Rising commods temper USD gain, BoC likely on hold expect hawkish tones

  • POLL-BoC to raise rates in Q3 next year, possibly sooner nL4N2RL37F

  • Res 1.2394's daily Tenkan, 200DMA by 1.2496, 50% of 1.2896-1.2289 at 1.2593

  • Support 1.2338 Today's low, 1.2289 Oct 21 low, 1.2238 lower 21-d Bolli

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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