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Jun 09 - 01:55 PM

USD/CAD - Hold Support At Recent Low 1.2058 After BoC Rate Hold

By Paul Spirgel  —  Jun 09 - 11:42 AM
  • USD/CAD clings to slight loss, -0.1% at 1.2104; Wed range 1.2117-1.2058

  • BoC eyes steady rate, til at least H2 '22, sees infl moderating after summer

  • Pair straddles 10/21-DMAs, res ahead of 1.2139 50% of 1.2352-1.2007

  • Support May 7/9 low 1.2058, lwr 21-d Bolli at 1.2021, 1.1920 May 2016 low

  • BoC Rate hold headlines nT5N2L7012

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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