USD/CAD bulls move in on dovish BoC and hawkish Fed sentiment USDCAD DollarIndex Fed BOC Currencies
The markets are trying to price in rate cuts by the end of the year, although Fed officials keep sounding the alarm over the prospects of higher for longer inflation, dependent on data which is fuelling a recovery in the greenback:
The pattern is a reversion pattern and tends to pull the price toward the neckline for the restest of the support in that area. In this scenario, we have a 61.8% If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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