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USDCAD Pushing Lower With Stronger Risk Sentiment

CANADA
  • USDCAD is seeing decent downward momentum with the intraday lift in equities and WTI earlier clearing Friday’s high.
  • It’s seen the pair push through overnight lows to 1.3782 for its lowest since Thursday but not yet troubling support seen much lower at 1.3664 (50-day EMA).
  • CAD sits broadly mid-pack of G10 FX, with activity limited by the observance of Remembrance Day.
  • Tomorrow sees focus clearly on US CPI with very little USDCAD option expiry of note which should limit any gravitational pull to certain levels.

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