USDCAD Technical Analysis – We are at a key support zone ...Middle East

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USDCAD Technical Analysis – We are at a key support zone
Fundamental OverviewThe US Dollar continues to consolidate despite the higher-than-expected inflation figures and a less dovish Powell last week. The market’s pricing remained largely unchanged at three rate cuts by the end of 2025.This is generally a signal that the market is fine with the current pricing, and we would need stronger reasons to price out the remaining rate cuts. This could lead to some general US Dollar weakness in the short term.On the CAD side, we had the Canadian CPI this week and the data came in stronger than expected. This decreased the chances of a 50 bps cut in December with the market now seeing 90 bps of easing by the end of 2025 compared to 98 bps before the CPI r

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