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MWby u/mwhite·35mAnalysis

CAD strength following BoC - EURCAD still interesting

BoC's hawkish tone yesterday really caught some off guard. $CAD reacted exactly as expected, strengthening across the board. Now we're looking at $CAD at 95.879, which feels a bit extended, but the messaging from Macklem was pretty clear on inflation. I'm watching $EURCAD specifically. Even with the move, it's still trading around 1.6042. Feels like there's still room for that pair to drop further if the CAD momentum holds and the ECB remains relatively dovish by comparison. Not chasing it, but keeping it on the short list for a potential entry on any consolidation.

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