USD/CAD consolidates ahead of BoC and key data – by fx_ross USDCAD Technical Analysis Currencies DollarIndex
Stocks took a breather after a two-day rally, with earnings from major companies starting to roll in. Market participants also digested economic data on manufacturing which led toMeanwhile, we have important events coming up in the
“Policy has to stay on the tighter side during 2023” as the disinflationary process unfolds, Bullard added.However, there have been bearish tendencies in the US data of late for the US Dollar which has remained under pressure for the best part of the last couple of weeks. E ''However, the Federal Open Market Committee is entering a more nuanced phase of the tightening cycle. The lagged effects of last year’s policy tightening still have further to bite, and so far, there is no widespread evidence that the labour market is weakening significantly''
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