USD/CAD: BoC Governor, Stephen Poloz, keeps markets guessing on July rate move


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CAD and closed at 1.3331.

Yesterday, the Bank of Canada Governor, Stephen Poloz, stated that the impact of US trade fight and tighter mortgage rules will “figure prominently” in the Central Bank’s July’s interest rate decision.

In the Asian session, at GMT0300, the pair is trading at 1.3330, with the USD trading slightly lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3277, and a fall through could take it to the next support level of 1.3223. The pair is expected to find its first resistance at 1.3385, and a rise through could take it to the next resistance level of 1.3439.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/CAD. Bookmark the permalink.

Comments are closed.