BoC rate hold impact on CAD pairs

The Bank of Canada held rates steady again today, no real surprise there given recent inflation data. Still, the market's reaction feels a bit muted for $CADUSD hovering around 0.71401, only up a bit on the day. Makes me wonder if the 'higher for longer' narrative is finally getting priced in more broadly, or if there's still a decent chunk of dovishness lingering. I'm keeping a close eye on $USDCAD into next week; if oil can find some consistent support, we might see some interesting moves there.