USDCAD swings lower and back higher on Poloz comments.

Trades to new session highs

The USDCAD's initial reaction was lower but the uncertainty from Poloz has weakened the CAD (USDCAD) higher. The probability of a move is down from 60.8% to 58.2% on the initial reaction suggesting the central bank head has not tipped his hand in a grand way.

Nevertheless, the market is giving a slightly more dovish slant.

Technically, the pair is above the 100 hour MA and up testing some of the swing highs from last week in the 1.33.349-455 area. A move above looks toward the 1.3375-807 area. The 1.3375 is the 50% of the move down from the 2016 high. The 1.33807 was the spike high after the weaker retail sales and CPI last week.