USDCAD continues to retreat with BOC in focus

Author: Mike Paterson | Category: Central Banks

Another back foot session for the pair 6 Dec

Bank of Canada interest rate decision and statement in focus at 15.00 GMT and markets are still not ruling out a hike after some recent strong data.

Adam posted his thoughts here yesterday.

The retreat more notable given decent falls in oil price too this session.

USDCAD testing support/bids into 1.2650 again after failing above 1.2700. A break through that line should trigger further falls to 1.2630. Offers/res building at 1.2680

                                                    USDCAD 15m
Earlier I highlighted again the value to be had also in a long CADCHF play.

 You can always trust a Mountie but the BOC? Not long til we find out