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USDCAD With Technical Wiggle Room Ahead Of US Data, Fedspeak

CANADA
  • USDCAD keeps onto the overnight retracement to sub 1.37 having cleared 1.38 yesterday, buoyed by a bounce in risk sentiment and, very much at the margin, a pulling back in the Can-US yield differentials from yesterday’s recent lows (but 2Y still -45bps).
  • At 1.3677, the technical trend is still seen northbound but sits some way off both resistance at yesterday’s 1.3808 and support at 1.3468 (Sep 23 low).
  • Fedspeak and upcoming US data likely dominates the session, with no local events of note.

Source: Bloomberg

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