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18 Sep 2014
USD/CAD relatively stable post FOMC but… - TDS
FXStreet (Barcelona) - Shaun Osbourne, Chief FX Strategist at TD Securities explained that the USD/CAD remains relatively stable in the aftermath of the Fed meeting.
Key Quotes
“All the CAD action is happening on the crosses, with EUR/CAD trading heavily and approaching the early-September lows once again having failed against noted resistance in the 1.44 area last week, for example."
"We think USD/CAD remains something of a sideshow for the markets at the moment. Gov. Poloz was very neutral in his comments on the policy outlook earlier this week and the pick-up in the data recently has given the markets no reason to challenge the assumption that BoC policy will track US rates broadly higher in the months ahead."
Key Quotes
“All the CAD action is happening on the crosses, with EUR/CAD trading heavily and approaching the early-September lows once again having failed against noted resistance in the 1.44 area last week, for example."
"We think USD/CAD remains something of a sideshow for the markets at the moment. Gov. Poloz was very neutral in his comments on the policy outlook earlier this week and the pick-up in the data recently has given the markets no reason to challenge the assumption that BoC policy will track US rates broadly higher in the months ahead."