The Bank of Canada maintaining the policy without changes on Wednesday provided a slight impulse for the Canadian dollar (CAD), but the torque has risen a little more this morning, reflecting small profits in the US dollar (USD), leaving the funds negotiating more or less just in our estimation of fair value (1,3881), says Shaun Osborne, head of Strategy of FX of Scotiab.
The impulse of the trend is still bassist for the USD
“A certain demand for short coverage can give the USD a slight impulse in the short term while the markets adjust positions for the long weekend.”
“The risk of more relaxation steps in Boc policy is unlikely to reduce too much in the coming months, but policy responsible will need more clarity about the tariff regime that Canada faces before acting. Ontario is introducing legislation that will eliminate provincial commercial barriers (provided that other jurisdictions reciprocate). Never let a good crisis be wasted.”
“The slight profits for the USD today, after a drop in the spot yesterday, maintain the technical image in the short term something neutral for the spot. The broader patterns and the impulse of the trend remain bassists for the USD and will maintain a limit on any gain of the USD (to the area of 1.4000/25 at most). The support is 1,3825/50.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
