USDCAD Technical Analysis – We are at the highest level since 2020 ...Middle East

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USDCAD Technical Analysis – We are at the highest level since 2020
source : forex live ( Middle East ) () 61
Fundamental OverviewLast week, despite the higher-than-expected inflation figures and a less dovish Powell, the US Dollar couldn’t extend the gains. The market’s pricing remained largely unchanged at three rate cuts by the end of 2025.This might be a signal that the market is now fine with the current pricing, and we will need stronger reasons to price out the remaining rate cuts. This could open the door for some pullbacks and general US Dollar weakness.On the CAD side, we have the Canadian CPI tomorrow. The market is pricing a 33% chance of another 50 bps cut at the upcoming meeting. Higher than expected readings might increase the chances of a 25 bps move and provide a relief rally. Conve

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