Forex: USD/CAD trading at session highs in 1.0089/91
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USD/CAD
FXstreet.com (Barcelona) - Following a waning of the USDCAD to close out the previous week, the pair has rallied strongly as the CAD again is on the defensive against its US counterpart Monday. Indeed, at the time of writing the cross is trading at session highs in the region of 1.0089/91, notching an early 0.22% advance in European trading.
Later today in Canada at 16:00 GMT, investors will be paying attention to the BoC Governor Mark Carneys speech, which should no doubt address the internal state of the CAD in recent weeks.
"Second to the JPY, the Canadian dollar appears to be suffering the most in recent weeks, although CAD has its own internal issues to contend with now, after the Bank of Canada watered down its hawkish bias last week on the back of a more benign inflation outlook." warns Research Analyst Gareth Berry at UBS.
According to the Mataf.net Analyst Team, the USDCAD will face calculated resistance at 1.0109, onto 1.0144, and 1.0187. Conversely, a prolonged plunge below the 1.0031 handle will trigger support at 0.9938 and 0.9953.
Later today in Canada at 16:00 GMT, investors will be paying attention to the BoC Governor Mark Carneys speech, which should no doubt address the internal state of the CAD in recent weeks.
"Second to the JPY, the Canadian dollar appears to be suffering the most in recent weeks, although CAD has its own internal issues to contend with now, after the Bank of Canada watered down its hawkish bias last week on the back of a more benign inflation outlook." warns Research Analyst Gareth Berry at UBS.
According to the Mataf.net Analyst Team, the USDCAD will face calculated resistance at 1.0109, onto 1.0144, and 1.0187. Conversely, a prolonged plunge below the 1.0031 handle will trigger support at 0.9938 and 0.9953.
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