USDCAD Technical Analysis – We are back to square one ...Middle East

Fundamental OverviewThe USD continues to remain under pressure amid positive risk sentiment and the imminent rate cuts from the Fed which should help global growth. These are generally bearish drivers for the greenback.In fact, the recent appreciation of the CAD has been mostly driven by the US Dollar side of the equation. The Bank of Canada started its easing cycle before the Fed and the market expects the central bank to continue to deliver rate cuts at each remaining meeting for this year. Today, we get the latest Canadian CPI figures and although they shouldn’t change much in terms of market pricing, the release might still move the CAD and provide opportunities to either fade the reacti

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