USD/CAD corporate market orders 23 April
Offers
- 1.0280/85 (buy stops through 1.0290)
- 1.0300
- 1.0320/30
Bids
- 1.0250/55
- 1.0230
- 1.0220
Following the better than expected retail sales release, bids in the 1.0250 area soaked up an attempt to break out of the lower trend line. As you can see the squeeze is on as to which way the break will occur. The series of higher lows points to a break to the upside but strong selling at 1.0300 could contain any move higher short term.
With the BOC taking rate moves off the table for now close watch will be kept on the GDP data released next week.
