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USDCAD Hits Session Highs As Geopol Risk Remains In Focus

CANADA
  • USDCAD extends to new session highs of 1.3763 despite equities and WTI holding off session lows.
  • The move started well before NATO’s Stoltenberg spoke but is potentially further supported by comment that Putin’s annexation address is the “most serious escalation since the start of the war”.
  • Technicals continue to see upward pressure on the pair, with resistance still some way off at Wednesday’s high of 1.3833.
  • Upcoming triggers: Monday PMIs and particularly US ISM after any weekend geopol developments.

Source: Bloomberg

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  • USDCAD extends to new session highs of 1.3763 despite equities and WTI holding off session lows.
  • The move started well before NATO’s Stoltenberg spoke but is potentially further supported by comment that Putin’s annexation address is the “most serious escalation since the start of the war”.
  • Technicals continue to see upward pressure on the pair, with resistance still some way off at Wednesday’s high of 1.3833.
  • Upcoming triggers: Monday PMIs and particularly US ISM after any weekend geopol developments.

Source: Bloomberg