USDCAD: Potential Upsides with Canada easing inflation
Hey Traders, in today’s trading session we are monitoring USDCAD for a buying opportunity around 1.35700, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.35700 support and resistance area.
The current scenario suggests a disinflationary trend in Canada when examining inflation and wage dynamics. While not the central expectation, it wouldn't be unexpected for the Bank of Canada to adopt a dovish stance during their upcoming meeting. This could involve hints at a potential rate cut in the future meeting or discussions surrounding pausing their Quantitative Tightening program.
Trade safe, Joe.
The current scenario suggests a disinflationary trend in Canada when examining inflation and wage dynamics. While not the central expectation, it wouldn't be unexpected for the Bank of Canada to adopt a dovish stance during their upcoming meeting. This could involve hints at a potential rate cut in the future meeting or discussions surrounding pausing their Quantitative Tightening program.
Trade safe, Joe.
Join our telegram Channel for daily market updates t.me/JoeChampionChannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.