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Sep 16 - 11:55 AM

USD/CAD Steady Amid Rising Commodities And Dovish BoC Comments

By Paul Spirgel  —  Sep 16 - 09:35 AM
  • $CAD hovers near flat at 1.3586 in early NorAm; Mon range 1.3602-1.3586

  • Pair caught in tug of war b/w Fed -50bp and more dovish BoC comments

  • BoC's Macklem signals faster pace of rate Click here

  • Commodity rise props up CAD; oil +1.2%, copper +0.9%

  • $CAD trades either side of 200-DMA (1.3587) ahead of key Fed rate decision

  • Res 1.3602 Monday high, 1.3623 Sep 11 daily high, 1.3661 the 55-DMA

  • Supt 1.3563 rising 10-DMA, 1.3547 daily low Sep 9, 1.3545 50% of 1.3467-1.3623

Source:
Refinitiv IFR Research/Market Commentary

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