Canadian Dollar Outlook: USD/CAD Rebound May Continue Ahead of BoC 2021-01-18 07:30:00 Daniel Moss, Analyst
Canadian Dollar, USD/CAD, Coronavirus Restrictions, Bank of Canada, IGCS – Talking Points:
Risk appetite notably faded to kick-off a fresh week of trade as attention shifts to President-elect Biden’s upcoming inauguration.
Deteriorating health outcomes and economic data may weigh on the Canadian Dollar ahead of the Bank of Canada’s upcoming rate decision.
A Double Bottom reversal pattern hints at further upside for USD/CAD in the short-term. Advertisement
Asia-Pacific Recap
Risk appetite notably faded during Asia-Pacific trade as investors look towards President-elect Joe Biden’s inauguration on January 20. Australia’s ASX 200 fell 0.78% and Japan’s Nikkei 225 slid 0.97%, as local health authorities reported a record number of coronavirus patients.