USDCAD and the Fed's next trick

Watching $USDCAD bounce around 1.40983 today, after what seems like a week of the Fed trying to talk down inflation expectations while simultaneously hinting at 'patience' with rate cuts. It's a bit like watching someone try to pat their head and rub their stomach at the same time; eventually, something gives. If they keep up this hawkish talk for too long, especially with oil stubbornly firm, that 1.41 handle on $USDCAD could start to feel like solid ground, not just a ceiling. Still got an eye on a few regional banks that look oversold, but the broader index plays feel like a coin toss until the market gets a clearer signal on where the real pain point is for Powell & Co.