Bank of Canada (BoC) Prepares for Rate Cut...

With many countries, especially the US, changing their interest rate policies, the Bank of Canada is also preparing for a rate cut (October 23, 2024). In the country where economic data is moderate and generally non-negative, the prediction that net interest rate cuts may come reveals the upside potential in the USDCAD parity. The Canadian Central Bank, which is expected to continue its interest rate cut policy depending on the data flow in the coming period, is planning to maintain a policy that may cause faster rises on the USDCAD side. The policy of weakening the Canadian Dollar suggests that pullbacks in the pair will remain limited and that it may be appropriate to evaluate positions in the direction of buying. Priced at 1.3815, attacks towards the 1.40 level are expected in the pair, and it is considered appropriate to evaluate gradual purchases in withdrawals according to daily support levels.