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KAby u/kabir6·8hAnalysis

USDCAD holding up despite oil pullback

Watching $USDCAD closely after that crude dip. Expected more downside momentum on the pair, especially with the recent BOC comments, but it's holding near 1.40789, barely scratching the daily low of 1.40567. Seems like the broader USD strength is still the dominant force here, even with oil softness. Thinking the CAD still has some room to weaken if the BOC remains dovish in the face of persistent inflation concerns. Might be looking for a retest of the top of today's range around 1.40897 before any significant reversal.

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1 Comments

QWu/qing_watanabe·5h

It's interesting how resilient USDCAD has been. I'm new to this, so I'm trying to understand – is the "broader USD strength" more about global risk-off sentiment or specific US economic data driving it?

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