FX Strategists at Scotiabank noted the pair’s short-term stance stays tilted towards the neutral side. Key Quotes “The outlook for relative central bank policy remains supportive as market participants consider Friday’s stronger than expected CPI data and its implications for the BoC. Domestic rate expectations are firming and yield spreads are narrowing in a CAD supportive manner. Headline risk is elevated as we look to BoC Sr. Dep. Gov. Wilkins’ panel participation on the topic of financial conditions and vulnerability (9:15am ET). Sentiment appears to be delivering additional CAD support as we note the softening in measures of implied volatility and stabilization in risk reversals. USDCAD is currently well above our FV estimate of 1.2922″. “Momentum indicators are neutral and trend strength indicators are weak. Recent support has been observed around 1.3050 and recent USDCAD gains have faltered above 1.3150. We would anticipate additional near-term support at 1.3020, 1.3000 and the 100 day MA (1.2979)”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD moves sideways above 0.66 FX Street 4 years FX Strategists at Scotiabank noted the pair's short-term stance stays tilted towards the neutral side. Key Quotes "The outlook for relative central bank policy remains supportive as market participants consider Friday's stronger than expected CPI data and its implications for the BoC. Domestic rate expectations are firming and yield spreads are narrowing in a CAD supportive manner. Headline risk is elevated as we look to BoC Sr. Dep. Gov. Wilkins' panel participation on the topic of financial conditions and vulnerability (9:15am ET). Sentiment appears to be delivering additional CAD support as we note the softening in measures of implied volatility… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
