By Paul Spirgel — May 24 - 11:55 AM
USD/CAD firm into Europe close, +0.7% to 1.2860; Tuesday range 1.2872-1.2765
Weak global PMI data tempers hawkish global rate tones; CADOIS rates dip
CADOIS +178BP to Dec BoC meeting, FF futures show +182 to Dec 14 Fed meet
$CAD supt holds by 1.2768, 50% of 1.3077-1.2459, res by 10-DMA at 1.2877
Close below 1.2768 shifts momentum to USD bears,55/100-DMAs targeted by 1.27
Above the 10-DMA May 18-19 highs ahead of 1.29 in focus
Risks tipped to downside as Fed, BoE are seen traveling on similar hike path
CAD Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary