USD/CAD Outlook: Soft Buy Opportunity
Filatov Arthur | Dec 08, 2021 08:53PM ET
Overall, USD/CAD is trending upwards. Recently, USD/CAD bounced off the support zone of 1.26100.
The Bank of Canada (BoC) kept its monetary policy unchanged during their meeting yesterday.
Regarding COVID's Omicron variant, the central bank highlighted the renewed uncertainty it is causing saying,
“it could weigh on growth by compounding supply chain disruptions and reducing demand for some services.”
Nonetheless, the BoC is still expecting its 2% inflation target to be sustainably achieved in the middle quarters of 2022.
Canadian Governing Council member Gravelle will be speaking Thursday at 1500 (GMT+8). During this time, there may be volatility in CAD.
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