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USDCAD Just Off Post-Open Session Lows Ahead Of BoC Surveys

  • USDCAD touches session lows of 1.3715 after a strong US open, having moved lower both before and after a small Empire Mfg miss.
  • It’s since increased to 1.3735-40 but sits close to support at 1.3704 (Oct 14 low) after which would be the 20-day EMA of 1.3632 if it does further reverse the technical uptrend.
  • Ahead, BOS/CSCE surveys at 1030ET are the focus for the session. Senior Dep Gov Rogers is in a panel discussion late at 1600ET, sticking to event Q&A with no text or media Q&A.

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