USDCAD Long
Long USDCAD:
Rejection off range low, breakout through countertrend line and head and shoulder.
Going in line with current fundamental biases for higher rates for longer from the FED and rate cuts this week from the BoC.
Keep in mind there is lots of high impact data this week for both the CAD and USD, weekly options expiries might be the safer choice around this potential volatility
Rejection off range low, breakout through countertrend line and head and shoulder.
Going in line with current fundamental biases for higher rates for longer from the FED and rate cuts this week from the BoC.
Keep in mind there is lots of high impact data this week for both the CAD and USD, weekly options expiries might be the safer choice around this potential volatility
Note
Weekly USDCAD Call executed yesterday at 1.3600 Strike and a BE at 1.36706Will hold contract through CAD rates and US employment data
Note
CAD cut rates inline with 25bps expectation and US PMI' came in above the consensus range high at 53.8. These two macro releases causing weakness on the CAD and strength across the USD
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