USD/CAD Buyers Push for Extended Control Amid Oil Weakness
Technical Analysis
The USD/CAD pair remains in bullish territory, with buyers pushing the price higher amid a supportive backdrop of falling oil prices and expectations of a dovish BoC. A decisive move above 1.38190 could pave the way for further gains, while a break below 1.37970 would signal a shift in momentum. Market participants should stay alert to upcoming BoC policy announcements and U.S. economic data for cues on the next potential move.
Market Overview
On Monday, the USD/CAD pair continued to gain traction, driven primarily by two influential factors: a decline in oil prices and increased speculation that the Bank of Canada (BoC) may increase its pace of interest rate reductions.
The USD/CAD pair remains in bullish territory, with buyers pushing the price higher amid a supportive backdrop of falling oil prices and expectations of a dovish BoC. A decisive move above 1.38190 could pave the way for further gains, while a break below 1.37970 would signal a shift in momentum. Market participants should stay alert to upcoming BoC policy announcements and U.S. economic data for cues on the next potential move.
Market Overview
On Monday, the USD/CAD pair continued to gain traction, driven primarily by two influential factors: a decline in oil prices and increased speculation that the Bank of Canada (BoC) may increase its pace of interest rate reductions.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.