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USDCAD Decline Extends With US Rates Rally Post-Timiraos

CANADA
  • USDCAD hits new session lows of 1.3735 (-0.2%) as AUD first and then CAD closely behind lead other majors on the combination of equities and oil firming as US rates continuing to rally after the initial post-Timiraos reaction - see above.
  • The period above 1.38 did indeed prove short-lived but USDCAD is still a way off yesterday’s low of 1.365 with support seen just above that at the 20-day EMA 1.3670.


Source: Bloomberg

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