The market hasn't closed yet however we are seeing CAD weakness across the board despite the interest rate decision.
We covered this in one of our other CAD posts. Typically a currency will get stronger before the rate hike announcement. Most of the time a rate hike is priced in and you will see some initial strength but it will most likely weaken after the event depending on the rate of which hikes will continue.
The USD is in the case of continual rate hikes which is why we are seeing the continued strength over CAD.
Technically we look to be closing above the trendline resistance and if we see that happen we could expect further upside into the resistance of 1.3300.
We covered this in one of our other CAD posts. Typically a currency will get stronger before the rate hike announcement. Most of the time a rate hike is priced in and you will see some initial strength but it will most likely weaken after the event depending on the rate of which hikes will continue.
The USD is in the case of continual rate hikes which is why we are seeing the continued strength over CAD.
Technically we look to be closing above the trendline resistance and if we see that happen we could expect further upside into the resistance of 1.3300.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.