Today
-0.05%
5 Days
-0.10%
1 Month
-0.71%
6 Months
+3.08%
Year to Date
+2.33%
1 Year
+0.38%
Opening Price
1.405Previous Closing Price
1.405
The upside prevails as long as 1.4031 is support, with 1.4081 and 1.4095 as targets
below 1.4031, expect 1.4008 and 1.3994.
The upside prevails as long as 1.4031 is support, with 1.4081 and 1.4095 as targets
Commerzbank’s Norman Liebke expects the Bank of Canada (BoC) to deliver a widely anticipated 25 bps hike to 2.5%, though he views this as premature given subdued core inflation.
Brown Brothers Harriman’s Elias Haddad notes USD/CAD is holding above 1.4000 ahead of the Bank of Canada decision, where an 80% priced 25 bps hike to 2.50% would mark the start of a new tightening phase.
MUFG’s Derek Halpenny sees an 80% implied probability of a BoC hike but doubts Governor Macklem will validate the 100 bps of tightening priced through next September. With weak Canadian labour data and lingering US trade risks, he sees little room for front-end yields to rise further.
The Bank of Canada (BoC) is expected to raise its benchmark interest rate by 25 basis points to 2.50% on Wednesday, as persistent inflation concerns put pressure on policymakers to tighten monetary policy despite growing signs of economic weakness.
USD/CAD gains ground for the third consecutive day, trading around 1.4060 during European hours on Wednesday. The Bank of Canada (BoC) is expected to deliver a 25-basis-point interest rate hike later in the day.
The USD/CAD pair gains positive traction for the second straight day on Wednesday, extending this week's recovery from the 1.3970-1.3965 region, or the lowest level since September 16.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.