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Jun 16 - 01:55 PM

USD/CAD - Rallies As Traders Re-Assess Inflation's Effects On Growth

By Paul Spirgel  —  Jun 16 - 11:50 AM
  • USD/CAD firm into Europe close, +0.37% at 1.2940; Thurs range 1.2970-1.2863

  • Commodity dip weighs on CAD, glbl rate hikes add to growth doubts

  • $CAD avoid broad USD weakness as rates traders push US yields lower

  • Despite today's weakness BoC seen hiking 200bps by Dec meeting on pace w/Fed

  • $CAD supt 1.2862 Thurs low, 1.2832 daily cloud top, 1.2789 rising 10-WMA

  • Res 1.2970 Thurs high, 1.2997 upper 21-d Bolli, 1.3077 May 12's 2022 high

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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