USDCAD Technical Analysis – The positive sentiment boosts the Loonie ...Middle East

Fundamental OverviewThe losses peaked for the Canadian Dollar last Monday as the volatility normalised, and we got some good US data throughout the week. That helped to turn around the risk sentiment and give the Loonie a boost. The market has been slowly paring back the aggressive rate cuts expectations for the Fed as now a 25 bps cut in September is seen as more likely with a total of 98 bps of easing by year-end. On the BoC side, the market is fully pricing a 25 bps cut in September and a total of 73 bps of easing by year-end. USDCAD Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDCAD spiked above the 1.3860 resistance last Monday due to the global stock market

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