Can USD/CAD Reverse Course and Rally?

USD/CAD was offered a brief reprieve from months of consistent selling pressure as market participants turned to Fed meeting minutes for insight. Prior to the report, USD/CAD slipped to its lowest level since September 2017 and the price chart reveals a series of lower highs and lower lows. Upon release, the FOMC minutes revealed “a couple” Fed officials expressed concern of inflation building to “unwelcomed levels.” The findings have led some investors to believe the beginning of taper talk has arrived which could prove bullish for the US Dollar. As a result, USD/CAD has moved off its fresh lows and nearby … (full story)

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