-
Weekly Technical Analysis: 06/06/2023 – USDCAD, AUDUSD, Oil
After a surprise rate hike by the Reserve Bank of Australia (RBA), the spotlight will fall on the Bank of Canada (BoC) on Wednesday. The central bank is expected to keep rates steady, while Friday’s Canadian jobs data could generate fresh volatility in USDCAD. Australian GDP growth figures may challenge AUDUSD earlier on Wednesday. Meanwhile in commodity markets, oil prices could not sustain OPEC-led gains. USD/CAD--> BoC rate decision The BoC will review its rate policy on Wednesday at 14:00 GMT. Although it pledged to keep rates steady, policymakers seem to witness pressure to resume monetary tightening. An ... (full story)