Forex Flash: USD/CAD to move on from BoC's Carney departure to the BoE  TD Securities

FXstreet.com (Barcelona) - The FX market remained pretty calm after news of BoC Governor Carney's pending departure to the UK to head up the BoE. "The broader implications for the CAD are very limited as we see BoC policy credibility deeply embedded within the institution, which should ensure seamless continuity", wrote analysts Shaun Osborne and Greg Moore, expecting the Loonie to move on quickly from this incident and retain a close focus on the risk environment, "which remains an important influence on near-term sentiment at least".

In regard to the USDCAD, there's a weak bias that pressures the 0.9900/20 key support, while intraday resistance is poised at 0.9950/60. "We favor looking for opportunities to sell USDCAD still and think near-term risks are geared to a drop back to the 0.97/0.98 range", they added.