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May 18 - 01:55 PM

USD/CAD - Firms Amid Broad Risk Selloff; CAD Slide Tempered By Hawkish BoC

By Paul Spirgel  —  May 18 - 11:50 AM
  • USD/CAD trickles higher +0.2% to 1.2843; Wednesday range 1.2851-1.2786

  • Powell, Fed laser-focused on inflation boosts USD; risk slides

  • CAD dip tempered by BoC's parallel hike path w/Fed; both near +200bp by YE

  • Pair anchored by 21-DMA at 1.2834, supt at Wed low 1.2796, key Fib 1.2768

  • Sub-1.2768, 50% of 1.2459-1.3077 bears gain momentum; 55-DMA in view 1.2704

  • Res Tues-Wed high just below 1.2860, 10-DMA 1.2922

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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