Volatile Week for USD/CAD?
Volatile Week for USD/CAD?
The Bank of Canada (BoC) is anticipated to lower rates by 25 basis points on Wednesday, bringing the policy rate down to 4.25%. This expectation follows a recent CPI report that indicated further easing in core inflation, coupled with weaker labor market data.
While a 50-basis point cut seems unlikely, it can't be entirely dismissed. In the July monetary policy meeting, Governor Tiff Macklem suggested that the focus may shift towards supporting economic growth rather than solely controlling inflation.
Additionally, Canada's August employment report is set to be released on Friday, coinciding with the US nonfarm payrolls report. This timing could heighten uncertainty and volatility in the USD/CAD pair.
A key level to watch will be the 1.3570-1.3600 zone, which previously served as a significant support area. Whether this area will be re-tested remains to be seen.
The Bank of Canada (BoC) is anticipated to lower rates by 25 basis points on Wednesday, bringing the policy rate down to 4.25%. This expectation follows a recent CPI report that indicated further easing in core inflation, coupled with weaker labor market data.
While a 50-basis point cut seems unlikely, it can't be entirely dismissed. In the July monetary policy meeting, Governor Tiff Macklem suggested that the focus may shift towards supporting economic growth rather than solely controlling inflation.
Additionally, Canada's August employment report is set to be released on Friday, coinciding with the US nonfarm payrolls report. This timing could heighten uncertainty and volatility in the USD/CAD pair.
A key level to watch will be the 1.3570-1.3600 zone, which previously served as a significant support area. Whether this area will be re-tested remains to be seen.
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Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium:
blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.