The Canadian dollar (CAD) remains little changed in the session. According to the expectations, the IPC data, which reflect a slight relief in the underlying pressures, do not move the needle for the short -term BOC policy perspectives, report the main strategists of Scotiabank, Shaun Osborne and Eric Theoret.
USD/CAD maintains neutral range in low 1.37
“The rebound in the underlying price trends since the beginning of the year remains intact and there is more than enough uncertainty about the prospects to keep the bank waiting for now. The swaps reflect little change in the expectations of relief, with about 8 basic points of cuts valued by the end of July. The spot continues to operate above our fair value estimated (1,364 today) It is reducing as the feeling of global risk stabilizes. “
“The rejection (technically bassist) of the spot in the area of ​​1.38 at the beginning of the week has been compensated to some extent by the rebound in yesterday’s support test in the high 1.36. The spot can continue to pivot around the low/media 1.37 in the short term, but the failure at the beginning of the week just below 1.38 remains the most outstanding feature of the graph in the short term because the fall occurred A positive change in the broader technical impulse in the daily study and maintain the general perspective for the USD bassist. “
“However, a break is needed below the 1,3675 support to renew the downward pressure on the USD at this time.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
