EUR/CAD broke to a 15-month low after the BoC hiked to 2.50% and sharply revised its inflation forecast higher, reinforcing a Canadian Dollar rally that was already underway. With OIS pricing ~52% odds of a December follow-up hike and the cross testing 1.5414 support, a break opens the door toward the psychological 1.5000 level.
The post EUR/CAD Slides to 15-Month Low as BoC Reinforces Loonie Rally — Is 1.5000 Coming Into View? appeared first on ActionForex.
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EUR/USD is still bounded in range above 1.1111 and intraday bias stays neutral. Further decline is expected as long as 1.1269 resistance holds. Firm break of 1.1111 will extend larger fall from 1.2081 to 1.0904 Read more…
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