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CAD BOC Rate Statement Weekly Fundamental & Technical Forcast
BOC’s policy statement (Sept 9, 2:00 pm GMT)
Optimism about the reopening of the Canadian economy and a common risk-friendly market theme pushed CAD higher across the board The Bank of Canada (BOC) kept its rates steady in July and was generally dovish in its statements Analysts aren’t expecting any policy changes from BOC this week Trader will look for Inflation clue again BOC Governor Tiff Macklem will hold a presser after the statement’s release Lockdown, stimulus and vaccine update will continue to affect the demand for crude oil and influence CAD’s intraweek trends Technical Overview Profit-taking can happen from last week’s strong moves CADCHF stochastic looking overbought zone CAD may soon be oversold against NZD CADJPY long time bullish trend looking CAD was most volatile against the yen and the European currencies in the last seven days
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