Markets are expecting a Bank of Canada rate cut later today (Wednesday), while Friday’s US nonfarm payrolls (NFP) report could inject further volatility for USDCAD. These top-tier economic events could amplify the loonie's struggles.
USDCAD is testing key resistance level at 200-period SMA
A break below this important level could drag the pair lower towards potential support levels: (1) 21-period SMA (1.345324) and (2) 23.6 (1.34572) Fibonacci level.
Markets are expecting a Bank of Canada rate cut later today (Wednesday), while Friday’s US nonfarm payrolls (NFP) report could inject further volati...
A break below this important level could drag the pair lower towards potential support levels: (1) 21-period SMA (1.345324) and (2) 23.6 (1.34572) Fib...
Next week sees the final FOMC meeting of the year with markets primed, locked and loaded for over 120bps of rate cuts in 2024....
Dollar index
DXY
EURUSD
USDCAD
NFP
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