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USD/CAD – Loonie Higher After Dovish FOMC Minutes

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Canadian dollar advanced versus the USD as the minutes from the March Federal Open Market Committee (FOMC) meeting added yet more dovish rhetoric to U.S. rate hike expectations. The interest rate divergence that had fueled the dollar rally has been put on pause after the Fed has gone from strong hints of rate hike moves in December back to a noncommittal stance in 2016. Canadian data was negative with the Ivey Purchasing Managers Index (PMI) coming in below forecasts at 50.1 barely above

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