The long term U-shape band of the USDCAD versus CADUSD is mixed. The measured band of CADUSD is to upward and the measured band of USDCAD is still slightly to upward. However, time series correction seems the USDCAD band already initiated to downward. It is preferred to wait the U-shape band of USDCAD and CADUSD to be in harmonized for measuring their medium and short term target zones.
Comment:
CAD leading the highest interest rates after the USD of all major currencies (USD, CAD, EUR, JPY, GBP, AUD, NZD, CHF) as the result of rate cutting made by RBNZ. This reflect the changes on CAD currency band.