USD/CAD kicked through 1.1200 as “temporary” inflation becomes “balanced” inflation

Author: Ryan Littlestone | Category: Central Banks

1.1191 is the low as the Bank of Canada release details from their monetary policy meeting.  They still see the underlying inflation pressures as muted but much of the “temporary” wording has come out.

We’re still a little bit in no mans land with the tech around here and the best level we’ve got is the July 2009 resistance line at 1.1212. Hold above and we go back up. Break below and confirm and we could well see a push lower towards 1.11

USD/CAD daily chart 22 10 2014

USD/CAD daily chart 22 10 2014

 

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