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Oct 27 - 11:55 AM

USD/CAD - Slips On BoC's Hawkish Hold, Hike Odds Rise For Jan 2022 Rate Hike

By Paul Spirgel  —  Oct 27 - 10:30 AM
  • USD/CAD dips to 5-session low at 1.2309 down 0.7%, Wed range 1.2432-1.2308

  • BoC holds rate steady, ends QE program, will now only reinvest nBCLRLEH0J

  • BoC cuts growth f/c for '21-22, see inflation abv target until YE 2022

  • BOCWATCH sees 50% odds of hike at Jan 26 meeting, 100% odds at Mar 2 meet

  • Pair dips from 1.2415 pre-BoC, eyes Oct 21 low 1.2289, lwr 21-d Bolli 1.2222

  • 10-DMA by 1.2363 reverts to resistance, then today's 1.2432 high

  • Bulls need a rise abv 100-DMA at 1.2522 to stem bearish tide

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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