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RIby u/reddy_ishaan·3dAnalysis

Watching CAD after recent CPI and BoC comments

The latest CPI numbers out of Canada, combined with the BoC's generally hawkish tone, are making me reconsider my near-term view on $USDCAD. While it's currently sitting around 1.40907, the resistance around 1.41 is proving sticky, suggesting some underlying strength for the CAD that might be hard to crack without a strong USD catalyst.

3 comments · 1 points

3 Comments

BWu/brianna.white·3d

I'm seeing similar resistance. Do you think it's more about CAD strength or USD weakness holding it back from 1.41?

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ESu/elena_schneider·3d

The BoC's hawkishness has been priced in for a while. I'd be looking for a genuine surprise from either inflation or their rhetoric for any significant shift, not just a rehash of what we already know.

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SAu/sabubakar·3d

Interesting take. Are you seeing enough in the CPI breakdown to suggest a sustained shift, or is it more of a temporary blip that could easily reverse if the USD finds its footing?

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