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