Ahead of Bank of Canada’s July 30 rate announcement, some Governing Council members felt the Bank may already have provided enough support for the economy
There was some debate inside Governing Council about what monetary policy could do to support the economy through this period of upheaval
Governing Council agreed there were no signs that inflation expectations had become de-anchored
Governing Council agreed that the degree of firmness in underlying inflation was an important consideration for the rate decision
The USDCAD remains above its 100-bar moving average on the 4- hour chart at 1.37433, and below the 100-day moving average at 1.3778. Traders are looking for a shove outside of that narrow support and resistance target area (see video from earlier today below).
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