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USDCAD Extends Pullback On Continued Slide In Yields

CANADA
  • USDCAD slides to new session lows on broad USD weakness with no let up in the slide in Tsy yields (US 10Y nominal -21.5bps, real -19bps) and so far relatively toothless Fedspeak with only a repeat appearance from Evans (’23 voter) left to come at 1400ET.
  • The low of 1.3611 see an intraday range of some 220 pips with the pair moving closer to support at 1.3560 (Sep 26 low), whilst the session and cycle high of 1.3833 forms initial resistance after which would lie levels last seen in May'20 and further above the range of 1.30-1.35 seen through 2019 in pre-pandemic conditions.

Source: Bloomberg

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  • USDCAD slides to new session lows on broad USD weakness with no let up in the slide in Tsy yields (US 10Y nominal -21.5bps, real -19bps) and so far relatively toothless Fedspeak with only a repeat appearance from Evans (’23 voter) left to come at 1400ET.
  • The low of 1.3611 see an intraday range of some 220 pips with the pair moving closer to support at 1.3560 (Sep 26 low), whilst the session and cycle high of 1.3833 forms initial resistance after which would lie levels last seen in May'20 and further above the range of 1.30-1.35 seen through 2019 in pre-pandemic conditions.

Source: Bloomberg