FXStreet (Edinburgh) – After climbing as high as the 1.2490 area, USD/CAD is now deflating to the 1.2485/80 band.
USD/CAD indifferent post-BoC
The pair is extending its upbeat momentum backed by a continuation of a solid performance of the greenback, managing to clinch multi-week tops just below 1.2500 the figure early in the European afternoon.
Data wise, the only event of significance today has been the BoC monetary policy meeting. In line with the broader consensus, the central bank left the refi rate unchanged at 0.75%, although CAD paid little attention, as there was no press conference from Governor S.Poloz this time.
USD/CAD levels to watch
The pair is now gaining 0.38% at 1.2482 with the next hurdle at 1.2500 (psychological level) followed by 1.2570 (high Apr.15) and finally1.2602 (high Apr.14). On the flip side, a breach of 1.2200 (psychological level) would expose 1.2173 (low May 22) and then 1.2170 (low May 20).
(Market News Provided by FXstreet)