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Jan 10 - 11:55 AM

USD/CAD - Rises Away From Monday's 6-Week Low As Traders Brace For CPI Thursday

By Paul Spirgel  —  Jan 10 - 10:40 AM
  • USD/CAD firm into Europe close, +0.18% at 1.3413; Tues range 1.3427-1.3377

  • Rising UST yields provides boost as mkts focus shifts to Thursday's US CPI

  • Pair off 6-wk low by 1.3357 after hawkish Daly, Bostic comments Monday

  • $CAD moves back w/in Bolli envelope, momentum remains w/USD bears

  • Res at Mon high 1.3445, 100-DMA 1.3483, 50% Fib of 1.3684-1.3357 at 1.3521

  • Supt at Tues low 1.3377, Mon low 1.3357, more significant supt at Nov 24-25 dbl bottom 1.3318

Source:
Refinitiv IFR Research/Market Commentary

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