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Apr 21 - 01:55 PM

USD/CAD - Eyes 2021 Low 1.2361 After Hawkish BoC Hold

By Paul Spirgel  —  Apr 21 - 11:53 AM
  • USD/CAD falls 1.05% to 1.2475 after dovish BoC hold; Wed range 1.2654-1.2459

  • BoC reduces Weekly APP amt, sees inflation hitting target H2 2022 vs Q1 2023

  • CAD gains despite falling oil on upbeat recovery tone, pot'l early rate rise

  • USD/CAD supt 1.2458 Apr 21 low, then 1.2385 lwr 21-wk Bolli, 1.2361 2021 low

  • Bears in control, bulls need to retake 10-DMA by 1.2538 to slow bearish tide

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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