USDCAD Technical Analysis – Back at the highs ahead of the US CPI ...Middle East

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USDCAD Technical Analysis – Back at the highs ahead of the US CPI
Fundamental OverviewThe US Dollar continues to consolidate around the highs although it’s stronger against the commodity currencies. In the bigger picture, the market reached the peak in the repricing of interest rates expectations, and it will need stronger reasons to price out the remaining rate cuts for 2025.In fact, despite lots of strong US data, the market’s pricing remaining largely unchanged around three rate cuts by the end of 2025. The focus is now on the US CPI report due tomorrow. It looks like the Fed really wants to cut next week before pausing for some months. So, we might need an upside surprise in the core inflation numbers to force them to change plans.Even if the Fed decid

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