USD/CAD finding strong support with positive outlooks...
Trades were pricing in more volatility for the BoC via a loftier implied 68 pip break-even, but in the event Usd/Cad only moved in the region of 40 pips, initially, as the Bank largely stuck to the script and rolled out a very similar accompanying statement to the previous one from July - bullets and a link to the full text available via the Headline Feed at 15.00BST, with a direct comparison has been posted at 15.03BST.
Nevertheless, the Loonie gleaned some traction from a rebound in crude prices rather than decent increases in Canada’s Ivey PMIs to contain losses below 1.2750 even when its US rival was posting new early September peaks.
While others fall asunder along with equities, the Greenback has clawed back all and more of its declines to set a fresh m-t-d best in DXY terms, at 92.864, and multi-week highs against index components by definition on safe haven grounds.
Nevertheless, the Loonie gleaned some traction from a rebound in crude prices rather than decent increases in Canada’s Ivey PMIs to contain losses below 1.2750 even when its US rival was posting new early September peaks.
While others fall asunder along with equities, the Greenback has clawed back all and more of its declines to set a fresh m-t-d best in DXY terms, at 92.864, and multi-week highs against index components by definition on safe haven grounds.