CAD weakens after BOC Macklem comments

The Canadian dollar weakened on Thursday after FED Chair Powell hawkish speech and downward moods prevail today amid China's worsening Covid-19 outbreak which pushed oil prices lower and supported USD. Also comments from BOC Chairman Macklem did not change market sentiment towards Loonie as he did not offer any new information.

Macklem said that BOC will consider another 50 bps hike in June and price increases aren't as transitory as he said they would be last year, however in his view inflation is close to a peak.

USDCAD pair climbs higher after breaking above local resistance at 1.27 which coincides with 38.2% Fibonacci retracement of the upward wave launched in October 2021 and upper limit of 1:1 structure. If current sentiment prevails, major resistance at 1.28 may be at risk. Source: xStation5

5 December 2025, 4:30 PM

3 markets to watch next week (05.12.2025)

5 December 2025, 1:32 PM

BREAKING: Lower Unemployment in Canada🍁USDCAD sharply declines📉

5 December 2025, 10:05 AM

BREAKING: Euro-zone GDP slightly above expectations!📈 EURUSD remains stable

5 December 2025, 7:01 AM

BREAKING: Germany industrial orders for October higher than expected; EURUSD gains 📌

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CAD weakens after BOC Macklem comments

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