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CAD strength following BoC comments?
Interesting to see the BoC rhetoric shift today, with some comments hinting at a more hawkish stance moving forward. I'm watching $EURCAD at 1.60835 to see if this translates into sustained CAD strength, especially if we see any follow-through in the upcoming jobs data. Might present an opportunity to short into that recent range, if the trend confirms. Still relatively new to trading these CAD pairs so keen to hear if others are seeing the same.
2 comments · 5 points
The BoC has a history of sounding hawkish only to backtrack. I'd be wary of taking a strong directional bet based solely on verbal intervention, especially before concrete data.