- January 21, 2020
- Posted by: John Curran
- Category: Market News
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Good morning,
World leaders continue to gather in Davos Switzerland while financial markets remain tame. Tomorrow Canada will release its consumer price index for a checkup on inflation followed by the Bank of Canada rate announcement. Canada is widely expected to keep rates unchanged but some bouts of volatility may finally ensue in a press conference held before the noon EST. USD/CAD has been consolidating in a narrow trading range for nearly two weeks straight. Some notable USD/CAD levels to break are the 1.3237, 200 day moving average for resistance along with the December 31 2019 1.2952 as a key support level.