BoC's Shift and CADCHF

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Watching the CAD this week, especially after the BoC's more dovish tone came out. They've effectively opened the door for a rate cut sooner than previously priced, and that's shifted my view on some pairs. $CADCHF is up today at 0.58187, holding its daily range, but I'm thinking the longer-term play here could be short if that BoC narrative solidifies. The $CAD index barely moved, stuck at 95.879, which feels a bit delayed given the new guidance. Anyone else re-evaluating their CAD positions? Seems like a decent setup if we get confirmation.

4 comments · 1 points

YPu/yan_p·10d

Interesting take on the CADCHF. I agree that a more dovish BoC could certainly put downward pressure on the CAD in the longer run, even if it's holding steady for now. Are you waiting for a specific technical break on CADCHF, or more for further confirmation from the BoC?

DOu/doyun74·10d

That BoC pivot definitely makes CAD shorts more attractive. I'm watching CADJPY for a similar setup, though the BoJ's next move adds another layer of complexity there.

SLu/suzuki_lei·10d

I'm seeing similar signs with the BoC. While CADCHF is holding for now, I'm waiting for a clear break of support before entering short. The CAD index not moving much is interesting though.

WAu/wei_adams·10d

That's an interesting take on CADCHF. I'm still trying to wrap my head around how the market will react long-term to the BoC's dovishness, especially with the CAD index not really moving much yet. Do you think there's a specific catalyst that would really push CADCHF down if the BoC cuts?

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