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USDCAD Back At Pre Russia Invasion Levels

CANADA
  • USDCAD hits new session lows as risk sentiment improves, -0.5% on the day although the loonie trails gains seen in other risk-sensitive currencies.
  • Touching a low of 1.2736, it’s down from yesterday’s high of 1.2878 and back firmly in the post-BOC/FOMC range, coming ahead of next week’s BOC decision.
  • Support is now eyed at the 50-day EMA of 1.2694, with the key short-term support of 1.2636 (Feb 10 low).

Source: Bloomberg

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