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USD/CAD bulls attack 1.3470 hurdle as Oil price retreats, BoC contradicts Fed
USD/CAD remains on the front foot for the second consecutive day, extending the previous day’s rebound from the weekly low to refresh the intraday top near 1.3455 during early Thursday. In doing so, the Loonie pair justifies the divergence between the monetary policy outlook at the Bank of Canada (BoC) and the US Federal Reserve (Fed). Also fuelling the quote could be the latest weakness in the Oil price, Canada’s key exports, as well as the mixed sentiment. On Wednesday, the BoC released its monetary policy meeting minutes for the first time and highlighted the growing discussions among the policymakers to pause ... (full story)
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- Posted: Feb 8, 2023 10:10pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,236
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