It is going to be an interesting evening if you plan to trade Canadian dollar
. I'd say it is very difficult to predict what we might hear from BOC
but by looking @ usdcad
, I'd say the market is positioning for bad news (for CAD). The pair is pushing higher and in the same time USDJPY
is taking things a bit slower, so I'd say it is not purely USD move but instead it is driven by flows that move out of Canadian dollar
- but that is my personal opinion.
From the technical point of view I'm looking for values above 1.0800 (all the way up to 1.0858).