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Jul 30 - 05:55 PM

USD/CAD - Ends July Offered On Fed-BoC Taper-Timing Divergence

By Paul Spirgel  —  Jul 30 - 04:05 PM
  • USD/CAD ends NorAm +0.23% at 1.2472, Friday range 1.2492-1.2423

  • Pair gives back some of weeks gain into month-end, USD/CAD -0.81% on week

  • Steady Fed on taper, rates soft versus BoC more hawkish taper view

  • Pair finds support at Jul 14's 1.2421 low, a tad below Friday's 1.2423 low

  • More significant supt at 100DMA by 1.2368 and then daily cloud top by 1.2331

  • Bears in control, bulls need a rise abv 200-DMA by 1.2598

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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