What is the $USDCAD going to do next? Look like its stuck at 1.36.
$USDCAD ?
- Thread starter warrenbuffetfans
- Start date
As long as the Canadian housing market doesn't collapse and no major mortgage issues will arise... and commodity markets will bounce back, I would say CAD should rise. BOC rate is still at 0.5% with inflation at 1.6%... surely they will increase rates sooner than later.
Might be more interesting to look at AUD.CAD. Similar economies, same size roughly, both driven by commodity market... 'strong' housing market...
RBA rate sits at 1.5% versus the BOC of 0.5%... with inflation following each other more or less.
BOC rate will rise earlier and more than RBA's....
Might be more interesting to look at AUD.CAD. Similar economies, same size roughly, both driven by commodity market... 'strong' housing market...
RBA rate sits at 1.5% versus the BOC of 0.5%... with inflation following each other more or less.
BOC rate will rise earlier and more than RBA's....
I'm expecting a short term downtrend.
I would like to see it bounce off the 50ma
USDCAD has gone virtually nowhere in the last 72 hours, but is technically still bullish. Moreover, it failed to evidence continuation after trying to reverse south 18 hours ago, and spent the last 6 hours coming off support, crossing above my trigger line 2 hours ago. It has retreated somewhat during the last hour, but is still north of my main arbiter, so I went ahead and entered a long position at 1.3090.
Bank of Canada widely expected to hike rates today Expect some action at 10am.
I was stopped out of my position with the release of the Bank of Canada rate decision, so it will probably be at least a couple of hours before I can determine if or how I should make up the loss.