Bank Of Canada (BoC)

USDCAD breaks support The Canadian dollar soared after red hot inflation readings in March. The greenback’s struggle to reclaim 1.2670 suggests a lack of momentum from the buy-side. A fall below 1.2540 triggered a new round of…
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USDCHF tests daily resistance The US dollar edged higher as Treasury yields touched a 3-year high. A surge above the supply zone around 0.9370 is a strong sign that the bulls have regained control of the direction. The daily…
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USDCAD tumbles towards daily support The Canadian dollar surged after the BOC’s aggressive rate hike of 50bp. The pair’s recovery came under pressure at 1.2670. A bearish RSI divergence shows a loss of momentum in the rally and the…
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EURUSD falls over hesitant ECB The euro softens over stark policy divergence from hawkish FOMC minutes. Soaring energy prices have pushed inflation in the eurozone to a record high of 7.5%, and the ECB is under intense pressure to…
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Yesterday, WTI Crude closed below $100/bbl for the third time since the start of the Russia-Ukraine war. Unsurprisingly, the USDCAD has been rising over the last couple of days as crude represents the largest export from Canada. But now…
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AUDUSD awaits RBA outlook The Australian dollar consolidates recent gains ahead of the RBA meeting. The labor market is going strong with unemployment projections to hit 60-year lows later this year. Forecasts for both economic…
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EURUSD attempts reversal The US dollar weakened after the Q4 GDP failed to impress. The euro gained momentum after it broke above 1.1130 which sits next to the 30-day moving average. 1.1230 at the origin of the March sell-off is a…
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USDCAD struggles for support The Canadian dollar surged after a sharp drop in February’s unemployment rate. A break above the recent peak at 1.2875 has consolidated the US dollar’s lead. The RSI’s repeatedly overbought condition has…
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While everyone has been focused on the horrors of the war in Ukraine, the potential economic fallout has been a little ignored. There have been some passing mentions of the wheat prices, but it still appears to be something only niche…
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AUDUSD struggles as sentiment worsens A deterioration in risk sentiment took a toll on the Australian dollar. War in Ukraine drove investors into safe havens and left riskier currencies such as the Aussie vulnerable. The sell-off…
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