Canada Finance Minister
He adds:
- Canada to remain competitive on corporate taxes
- Higher interest rates reflect stronger economy
- Is watching evolution of bitcoin carefully
The USDCAD, since the rate hike last week, has been moving up and down. Looking at the hourly chart below, the pair stalled at a topside trend line above. On the downside, the 1.2396-1.2400 is a floor area to get below. The lows today could only get to the 1.2430 level. In between is the 100 and 200 hour MAs which are not really giving much help as the market waffles back and forth.
