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Wild Day For USDCAD Ahead Of BoC's Gravelle

CANADA
  • It’s been a wild day for USDCAD as risk sentiment swings, currently back down -0.4% at 1.2976, but the growing yield differential has in part helped CAD now outperform other risk sensitive majors, having lagged this morning.
  • It currently doesn't trouble support at 1.2914 (May 2 low) or resistance at 1.3052 (May 10 high).
  • Known triggers tomorrow from US PPI (0830ET) and BoC’s Gravelle (1135ET/1150ET).
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  • It’s been a wild day for USDCAD as risk sentiment swings, currently back down -0.4% at 1.2976, but the growing yield differential has in part helped CAD now outperform other risk sensitive majors, having lagged this morning.
  • It currently doesn't trouble support at 1.2914 (May 2 low) or resistance at 1.3052 (May 10 high).
  • Known triggers tomorrow from US PPI (0830ET) and BoC’s Gravelle (1135ET/1150ET).