USDCAD Technical Analysis: Banks Influence CAD Stability
Thursday, 19 September 2024, 04:39
USDCAD Technical Overview
The recent FOMC decision failed to prompt significant movements in the CAD, which continues to display resilience. Several banks have noted this trend, emphasizing CAD's ability to maintain its range despite external pressures.
Current CAD Performance
Currently oscillating in the mid-1.35s, the CAD has rebounded from yesterday's late session wobbles. Key factors include broader USD weakness and stronger economic indicators influencing CAD stability.
Market Dynamics
- FOMC decisions have less impact on CAD's current range.
- Banks report a steady CAD performance.
- Traders watch for upcoming economic indicators that may sway the CAD.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.