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Mar 19 - 01:55 PM

USD/CAD - Breaks To New 2024 High After CA CPI Drop Pulls Forward BoC Cut View

By Paul Spirgel  —  Mar 19 - 11:35 AM
  • $CAD firm in NorAm trading, +0.43% at 1.3581; Tuesday range 1.3613-1.3528

  • Pair rallies to new 2026 high 1.3613 after Canada CPI dip

  • LSEG's IRPR- 25% odds for April cut, 72% odds for June; Fed 65% for June cut

  • Pair gets no help from mixed commodities, Copper -1.2%, oil +0.6%

  • Res 1.3605 upper 21d Bolli, 1.3613 new 2024 high, 1.3660 Nov 27 wkly high

  • Supt 1.3582 rising 10-HMA, 1.3528 Mar 19 low, 1.3511 10/100-DMAs

  • Fed rate announcement seen steady Wednesday; dot plot path in focus

Source:
Refinitiv IFR Research/Market Commentary

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