fed meeting, policy, model

USD/CAD Bearish After Fed Support Package Announcement

USD/CAD Daily Chart
USDCAD Daily Chart

USD/CAD: The pair is trading with clear dovish bias as broad-based USD’s weakness of Fed support package announcement weighed down USD bulls. But concerns surrounding lack of substantial progress on Crude oil supply cut measures and caution ahead of G20 energy ministers summit kept decline near the mid-1.39 handle. Traders now await the US and Canadian macro data and Fed Powell speech for directional cues. 

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