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USD/CAD breaks the April and May lows, nears the range-bottom

Today was the first day of a three-day gauntlet for FX traders, with the FOMC tomorrow and US retail sales Thursday (along with a PBOC decision). The pound is the big winner today but the Canadian dollar isn't too far behind as it gets some help from a strong rebound in oil prices. Narrowing rate differentials are also helping with the terminal Fed rate now priced at 5.275% compared to 5.08% in Canada. A surprise from the Fed and BOC could flip that, though it's unlikely.The main trade in market... Read More

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Content Topics

Usd

Cad

Breaks

April

Lows

Nears

Range

Bottom

Usd cad

Range bottom

Forex

Posted: Jun 13 2023, 15:43

Author Name: forexlive

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