TheUSD/CAD pair remains stable near 1.38. Scotiabank economists analyze the pair’s outlook.
BOC hawkish deliberations
The summary of the BOC’s deliberations focused on “considerable concern” over core inflation, noted that some senior policymakers thought rates would have to rise again, and reflected on the possibility of the neutral rate slipping into the future. rise.
Intraday price action suggests that the spot bullish move is stalling around the 1.38 point, but the trend momentum remains positive for the USD on the six-hour chart and more obvious weakness is needed (below 1.3750/1.3760 intraday) to signal at least a more definitive short-term high.
Resistance is at 1.3810/1.3820.
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.
