I’ve been pounding the table for awhile on USD/CAD longs and it’s all come together in the past two months, with a one-way move up through a series of highs in the 1.3950 range. Now the pair has clearly broken out and it’s due to a soft Canadian economy and a surprisingly strong one in the US. The Fed is already talking about slowing rate cuts and the Bank of Canada is likely to cut 50 bps next month.
Technically, this is as clear as the bitcoin breakout above $73,000. The target is 1.4500.
This article was written by Adam Button at www.forexlive.com.
Recent Posts
Categories
Related Articles
People’s Bank of China 300bn yuan Medium-term Lending Facility (MLF) at unchanged rate 2%
People's Bank of China issues 300bn yuan Medium-term Lending Facility (MLF) one-yearunchanged...
Bank of Korea says U.S. tariff policies, Fed policies among uncertainties for Korea
Bank of Korea after its rate cut earlier:Will determine timing and pace...
Goldman Sachs sees copper market step-up in price range, to $10,500-$11,500/t.
Goldman Sachs believes copper market is poised for another sustainable step-up in...
Heads up – Trump will be signing more executive orders on Tuesday, 1500 US Eastern time
Trump to sign more decrees at 1500 US Eastern time2000 GMT Earlier:Trump...
Leave a comment