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- USD/CAD advances on lower oil prices, US Dollar’s recovery, and neutral BoC bets.
- The BoC is expected to keep interest rates unchanged at 5%.
- USD/CAD hovers near the upper portion of the Rising Channel chart pattern in an attempt for a breakout.
The USD/CAD pair holds onto gains prompted by a breakout of the consolidation formed in a range of 1.3665-1.3740 in the European session. The Loonie asset capitalizes on expectations that the Bank of Canada (BoC) will keep interest rates unchanged at 5% for the second time in a row.
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