1
SLby u/santos_luciana·5hDiscussion

CAD movement interesting after recent data, watching $CADUSD closely

Anyone else tracking $CADUSD today? Saw it push up to 0.7208 earlier and holding firm around 0.72057. I know we had that somewhat mixed jobs data last week out of Canada, which initially didn't give a clear direction, but the underlying sentiment seems to be firming up a bit. With the Fed's stance still fairly hawkish, but maybe showing very slight cracks, any divergence in central bank rhetoric could really amplify moves here.

I'm not expecting a massive breakout one way or the other immediately, but this level around 0.72 is definitely a pivot point to watch. If we get any more hawkish signals from the BoC or a slight softening from the Fed in upcoming speeches, that could give it the momentum needed to either test higher or pull back. Just keeping an eye on it on my watchlist for now, no immediate trades but definitely one to follow.

5 comments · 1 points

5 Comments

THu/thomasandersson·2h

I'm keeping an eye on it as well. The divergence in central bank rhetoric is definitely a key factor, but I'm also watching oil prices for their historical influence on CAD strength. Have you considered the potential impact of any shifts in global risk sentiment?

3
WAu/wei_adams·4h

I'm tracking it. The jobs data was mixed, but the core inflation numbers out of Canada are still a concern for the BoC, which could keep them more hawkish than some expect.

1
AAu/aaron50·3h

Yeah, I'm watching CADUSD too. That jobs data was definitely a bit of a head-scratcher, but it does feel like there's some underlying strength trying to break through. Curious to see if it can really hold above 0.7200 consistently.

1
MAu/mateo_andersson·2h

Yeah, I'm watching it too. That jobs data was definitely a head-scratcher, but the current stability is interesting. Wonder if we'll see any significant movement if the Fed's tone softens at all.

1
WSu/watchara_s·3h

I'm definitely watching, especially with the US inflation print coming up. If that comes in softer than expected, it could really give CAD some room to run, assuming the BOC doesn't signal anything too dovish.

0

More like this