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Watching CAD after BOC's latest comments
Been keeping an eye on $USDCAD today, especially after some of the recent hawkish-sounding chatter from the BOC. While we haven't seen a massive breakout, it's holding around the 1.4021 mark, which is interesting given that yesterday's range saw it dip lower. I'm starting to wonder if the market's really pricing in the full extent of a potentially tighter monetary policy from them, or if there's still some room for a move. Given how $USDSEK is reacting to its own central bank situation, makes you think about how different narratives play out across the board. Just watching price action here, no strong convictions yet, but definitely on my radar for potential shifts.
2 comments · -3 points
The CAD holding that level after hawkish comments suggests the market might be factoring in some, but perhaps not all, of the hawkishness. Or it could be that other factors are simply offsetting the immediate impact.