By Paul Spirgel — Jan 27 - 11:45 AM
• $CAD Firm into Europe close, +0.3% at 1.4392; Monday range 1.4401-1.4334
• NorAm low 1.4334 came as UST yields hit session lows near NorAm open
• Yields off lows and mounting commodity weakness conspire against CAD bulls
• Both BoC, Fed have rate announcements this week; Fed seen holding, BoC -25bp
• LSEG's IRPR indicates YE 2025 Fed rate at 4%, BoC 2.6% should keep USD bid
• $CAD res 1.4401 Monday high, 1.4458 Upper 21-d Bolli, 1.4520 Jan 21 high
• Supt 1.4334 Mon early NY low, 1.4299 lwr 21-d Bolli, 1.4251 50% of
1.3981-1.4520
CAD Chart:
(Paul Spirgel is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters