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Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.26521 with take profit at 1.26708
Bearish Preference:
Sell position is envisaged if price trades below 1.26275 with take profit at 1.26106
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change
1:30pm USD Unemployment Claims
Comment:
The BoC opened the door to a more aggressive pace of tightening on Wednesday, saying it was prepared to act “more forcefully” if needed to tame inflation, even as it went ahead with a historic second consecutive half-percentage-point rate increase, lifting its benchmark rate to 1.50%.
Analysis: SCRUM Team
