USDCAD traded higher last week, but has faded since. Last week, price breached key resistance at 1.3695, the Sep 7 high. This highlights a bullish theme and a reversal of the recent bearish phase. The break also confirms a resumption of the uptrend that started mid-July. Trendline resistance - at 1.3699 and drawn from the Oct 13 ‘22 high, has also been cleared and is a bullish development. Support is at 1.3514, the 50-day EMA.
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2Y Treasuries have mostly rallied on recent CPI releases, regardless of whether they have been in line, missed consensus or even a small beat, but the sticking power for such front-end moves has been mixed.