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Apr 29 - 01:55 PM

USD/CAD - Early Slide Reversed After PCE Data Comes In Hot

By Paul Spirgel  —  Apr 29 - 11:40 AM
  • USD/CAD back to flat into Europe close; Friday range 1.2816-1.2720

  • Early USD weakness reversed after US PCE, ECI data hints inflation rising

  • USD/CAD supt ahead of minor Fin at 1.2719, 38.2% of 1.2459-1.2880

  • USD bears need a close below 1.2669 50% of 1.2459-1.2880 to gain momentum

  • Res 1.2829 upper 21-h Bolli, 1.2851 upper 21-d Bolli, 1.2880 Thursday high

  • Risks to downside, ex-USD haven flows, as Fed, BoC on similar hike paths

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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