By Paul Spirgel — Dec 23 - 10:55 AM
USD/CAD sliding into holiday, -0.4% at 1.3588; Fri range 1.3654-1.3576
Risk boosted equities reverse early slide, oil up better than 3%
Canada's economy slows in October, but still resilient after rate hikes
Pair shrugs off rising UST yields, BoC seen 25bp in 2023, Fed +50 IRPR
$CAD supt at 1.3577's 21-DMA, Dec 14 low 1.3520, daily cloud top 1.3480
Cloud twist Dec 27 just below 1.3470 in focus below 1.3520
Res Dec 23 high 1.3654, weekly triple top by 1.37 caps for now
China COVID recovery, rising commodities skew $CAD risks to downside in 2023
Source:
Refinitiv IFR Research/Market Commentary