VOT Research Desk
As it reduces early-Thursday losses caused by the Bank of Canada (BOC), USD/CAD picks up bids to 1.3685.
The Bank of Canada (BOC) raised interest rates by 0.50% on Wednesday, which affected the USD/CAD exchange rates.
The Rate Statement’s tone, on the other hand, came off as dovish and put the Canadian Dollar (CAD) buyers to the test.
Before today’s weekly US Initial Jobless Claims, Friday’s preliminary prints of the Michigan Consumer Sentiment Index and the 5-year Consumer Inflation Expectations, USD/CAD bulls can maintain control.
However, given that policy doves have just started exercising their biceps, the Fed meeting next week will receive significant attention.
|
Daily SMA20 |
1.3422 |
|
Daily SMA50 |
1.3571 |
|
Daily SMA100 |
1.3316 |
|
Daily SMA200 |
1.3044 |
