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May 31 - 01:55 PM

USD/CAD - Post-PCE Slide Pared Amid Dovish BoC Rate Expectations

By Paul Spirgel  —  May 31 - 11:50 AM
  • $CAD soft into Europe close, -0.27% at 1.3645; Friday range 1.3689-20

  • Pair off post-PCE data NorAm low 1.3620, slight m/m miss shrugged off

  • Soft CAD GDP tempered CAD rise; STIRs hint at more dovish BoC policy path

  • LSEG's IRPR indicates 80% odds for BoC cut in June, -60bp by Dec 11

  • $CAD supt 1.3633 daily cloud base, 1.3620 Friday flash low, 1.3575 200-DMA

  • Res 1.3663 falling 21-HMA, 1.3689 Friday high, 1.3702 daily cloud top

Source:
Refinitiv IFR Research/Market Commentary

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