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Canadian Dollar Technical Analysis: USD/CAD, EUR/CAD, GBP/CAD
Tiff Macklem kept the door open for more rate hikes out of Canada last week, and tomorrow brings inflation data ahead of next week’s Bank of Canada rate decision.
Canadian Dollar Technical Analysis: USD/CAD Snaps Back From Six-Month Highs
Canadian Dollar strength has come roaring back and last week’s job numbers out of Canada were strong. Is the CAD on the cusp of a bullish run? And if so, would EUR/CAD and/or GBP/CAD be more attractive for working with those themes?
Market pricing and economists favour a 25bp hike from the BOC tomorrow
Market pricing and the consensus among economists firmly points towards a 25bp hike from the BOC tomorrow.
In-Line UK inflation good enough for GBP
The GBP/CAD chart looks pretty clean with room for it to run to the upside.
Fed Evans thinks they need to go beyond ‘neutral’ rate
Hawkish comments from Fed Reserve member Charles Evans saw the US dollar catch a bid early in the Asian session.
The pound perks up ahead of inflation data
UK inflation is expected to rise to 6% y/y today, and if we’re to see a strong inflation data set overall it could revive hopes of a less cautious BOE regarding future hikes.
BOC Preview: Will the Bank of Canada be the next central bank to liftoff?
The Bank of Canada (BOC) meets on Wednesday this week and is expected to lift rates by 25bps (at the least) to 0.50%.
European Open: ‘Jack in the box’ trading continues
When the force which keeps prices suppressed is removed, price action behaves like a freshly-opened Jack in the box. And that’s what we saw during Asian indices overnight.