- CAD under pressure due to BOC's cautious approach.
- The weakness in oil prices can damage the CAD.
USD / CAD pair Finally at the 4-day high-level trading rate of 1.2813 with the courtesy of Bank of Canada (BOC) alert Outlook was seen.
The fact is that the BOC has decided to ignore all the latest data reforms. Cathy Linnean of BK Asset Management says, "Central Bank credits any increase for inflation factors in inflation and said that interest rate is being increased again at this rate, it wants to make the Bank of Canada clear it. It was that the new year, they have no immediate plans to tighten up. "
Apart from this, CAD is under pressure when the oil prices drop by 2-1 / 2 weeks. Today the focus is on the data docket of Canada. Says Lin, "Today's IVEY PMI report will be soft and USD / CAD will do more business."
USD / CAD technical level A break above 1.2837 (November 21st high) will open up to 1.2909 (November 30 high). 1.2956 (200 days MA) will be exposed to one violation. On the lower side, the violation of support on 1.2769 (10-day MA) could provide pullback to 1.2680 (50 day MA) and 1.2624 (November 5).
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