USD/CAD not in a hurry to go anywhere

Author: Justin Low | Category: News

While the dollar is weak across the board, the loonie hasn't really shone that brightly either

Post-BOC hike sees the pair trade sideways, and two days later it looks like there's really no hurry for it to break out of this week's 1.2400 - 1.2500 comfort zone.

The BOC has set the tone that NAFTA talks will be the major downside risk for the CAD, but with talks being extended earlier today, it looks like we could be in for a longer consolidation phase in USD/CAD.

The pair also has some decent sized option expiries today which may keep trading levels subdued:

  • 1.2400 (USD 651m)
  • 1.2450 (USD 613m)

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