Sphyn-Trader

USDCAD: Nice entry for Buy-er!

Long
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Fundamental Overview

If the Federal Reserve meeting were held today, it is likely that they would maintain the current interest rates due to the ongoing uncertainty surrounding the banking sector. However, it's important to note that market conditions can change rapidly. If the upcoming weekend remains stable without any urgent need to rescue failing banks, there is a good chance of a 25 basis points rate hike. The Federal Reserve tends to increase rates until economic instabilities arise. In the case of only SVB, persistently high inflation could trigger further rate hikes. This would result in a stronger US Dollar, which could eventually lead to a decline in stock markets once the relief rally surrounding no new bank failures subsides.

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