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This guest article was written by James Hyerczyk, financial analyst at FX Empire.
With all the focus this week on the monetary policy announcements by the Bank of Japan and the U.S. Federal Reserve, little has been said about the price action in the USD/CAD. This forex pair has reached a key point on the weekly chart that could trigger an acceleration to the upside.
While the direction of U.S. rates and crude oil prices will have a strong influence on the USD/CAD, I think that traders should also throw into the mix the outlook for Canada’s inflation.
The Fed ... (read more)