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US Dollar Forecast: USD/CAD Coils Above 50-Day SMA
USD/CAD continues to hold above the 50-Day SMA (1.3418) following the larger-than-expect slowdown in Canada’s Consumer Price Index (CPI), and the exchange rate may attempt to retrace the decline from the monthly high (1.3586) amid the lack of response to the negative slope in the moving average. US Dollar Forecast: USD/CAD Coils Above 50-Day SMA USD/CAD trades within the confines of the monthly range as Canada’s CPI prints at 2.9% in January versus forecasts for a 3.3% reading, and signs of slowing inflation may push the Bank of Canada (BoC) to gradually alter the course for monetary policy as ‘the economy now ... (full story)
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- Posted: Feb 25, 2024 4:36pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,861
