- Short USD/CAD is the favorite trade here. Expect relative rate expectations to be one of the key driver in the months ahead. Until we get to the point where the markets are convinced the Fed will hike rates, the USD/CAD downtrend will persist.
- Am poised here to sell new lows below 0.9950. Not far away (now at 0.9968).
- [BOC statement : "the economic recovery is proceeding somewhat more rapidly than the Bank had projected" and in turn, "the need for extraordinary policy is now passing and it is appropriate to begin to lessen the degree of monetary stimulus"]
1 comment:
0.9950 stop sell filled at 0.9948. Position size increased very marginally (9%).
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