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Mar 29 - 11:55 AM

USD/CAD - Drifts Lower After As-Forecast US PCE Data

By Paul Spirgel  —  Mar 29 - 10:15 AM
  • $CAD steady post-PCE data+0.04% at 1.3544; Friday range 1.3562-1.3535

  • As-f/c Feb core PCE holds little sway in liquidity-diminished holiday trade

  • Pair soft post-data; pre-data bid on month-end, data fears fades

  • Support at Fri low 1.3535, daily base line 1.3518, 200-DMA 1.3496

  • Resistance 1.3555 flat 10-DMA, 1.3562 Friday high, 1.3515 Mar 22 2024 high

  • IRPR indicates BoC Dec 2024 rate expectations -69bp, Fed -58bp

  • Fed cut expectation diminished after recent hawkish Waller statements

Source:
Refinitiv IFR Research/Market Commentary

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