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Sep 05 - 01:55 PM

USD/CAD - Bullish Fervor Tempered Slightly Into NorAm Afternoon

By Paul Spirgel  —  Sep 05 - 11:40 AM
  • $CAD off highs into Europe cls, +0.2% at 1.3620; Tues range 1.3669-1.3590

  • USD haven bid on back of low China, EZ growth expectations boosts USD

  • Bullish crosses intact as short-term DMAs remain above longer-term DMAs

  • CAD traders look past CA yields incremental rise of USTs, higher commods

  • Res by Apr 2022 high 1.3668, holds, further res 1.3716 upper 21-w Bolli

  • Support Tues low 1.3590, 10-DMA 1.3569, 21-DMA 1.3529

  • Futures price near 40% odds for 1-more BoC hike, Fed near 50% for Nov hike

Source:
Refinitiv IFR Research/Market Commentary

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