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US Dollar Forecast: USD/CAD Recovers Ahead of BoC Rate Decision
USD/CAD may attempt to trade back above the 50-Day SMA (1.3496) as it clears the recent series of lower highs and lows, and the Bank of Canada (BoC) interest rate decision may fuel the recent rise in the exchange rate should the central bank adjust the forward guidance for monetary policy. Canadian Dollar Forecast: USD/CAD Faces Bank of Canada (BoC) Meeting USD/CAD may retrace the decline from the monthly high (1.3542) as it extends the advance from the start of the week, but another failed attempt to close above the moving average may keep the exchange rate within the January range as the indicator continues to ... (full story)