HelenRush

USD/CAD Is Surrounded By Unknown

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Loonie, one of the markets’ favorites, is probably going to change the course.
Yesterday, Bank of Canada governor Poloz told that an appropriate path for rates is very difficult to know because of a number of unknowns around inflation outlook. He also assured the Bank would not be mechanical in policy approach since economy may act differently than in previous cycles.
That said, the regulator expresses more cautiousness now.
CAD, which has been growing for at least 5 months, is like a pain in the neck for the Central Bank . A strong currency may cause problems for the export activity and weight in on the economic growth. So, the regulator will try to discourage CAD.
Under these scenario, we expect USD/CAD             to struggle in the range of 1.2470-1.2510. This has been quite a strong support and resistance area since mid-July. In case of a breakout, the next bullish target will be the 1.26 level.
English (UK)
English
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out