Canadian Dollar Technical Analysis: Short-term CAD Weakness Anticipated–Setups for CAD/JPY, USD/CAD
While the BOC has turned more hawkish, other fundamental factors are working against the Canadian Dollar in the near-term. Volatility and weakness in oil prices coupled with a stretch of disappointing Canadian economic data are weighing on the Loonie. According to the IG Client Sentiment Index, USD/CAD rates have a bullish bias in the near-term.
2021-11-12