• USDCAD has ticked 20 pips higher to 1.3534 in recent trade but keeps to the session’s relatively narrow ranges.
  • It’s off a new latest high of 1.355, and one that remained for now below resistance at the bull trigger of 1.3606 (Feb 28 high).
  • CAD easier outperforms high beta peers with the USD index extending yesterday’s gains, and it’s currently vying with the USD and EUR for top G10 performer despite equities under pressure and WTI largely flat.
  • Looking ahead, one-week USDCAD implied vols sit at 5 points. It captures potential spillover from the BoJ before the FOMC decision plus local interest from CAD CPI and Thursday’s speech from Gravelle likely detailing some QT plans (even if the latter is more FI-relevant).
  • Despite the busy week ahead, it’s in line with the YTD average and off recent pre-March BoC highs of 6pts.


CANADA: 1-Wk USDCAD Vols Near YtD Average Despite Notable Week Ahead

Last updated at:Mar-15 16:09By: Chris Harrison
  • USDCAD has ticked 20 pips higher to 1.3534 in recent trade but keeps to the session’s relatively narrow ranges.
  • It’s off a new latest high of 1.355, and one that remained for now below resistance at the bull trigger of 1.3606 (Feb 28 high).
  • CAD easier outperforms high beta peers with the USD index extending yesterday’s gains, and it’s currently vying with the USD and EUR for top G10 performer despite equities under pressure and WTI largely flat.
  • Looking ahead, one-week USDCAD implied vols sit at 5 points. It captures potential spillover from the BoJ before the FOMC decision plus local interest from CAD CPI and Thursday’s speech from Gravelle likely detailing some QT plans (even if the latter is more FI-relevant).
  • Despite the busy week ahead, it’s in line with the YTD average and off recent pre-March BoC highs of 6pts.


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