Canada Finance Minister Freeland
Canada finance minister Freeland is on the wires saying:
- Canada has strong financial institutions. Institutions have capital they need to weather periods of turbulence
- Monitoring financial system closely, talking with allies about turbulence
- Will deliver additional targeted inflation relief in government budget next week
- Supports measures in the budget will be narrowly focused and fiscally responsible
- Budget will released on March 28 and will have measures to support clean technology, aiming to create jobs
- Canada must make investments in clean technology now or risk being left behind in shift to clean economy of 21st century
The USDCAD moved down to test the 50% of the move up from the February 20 low at 1.3651 area. That level was also the low from last week. The rebound reach 1.3691. That was short of the broken 38.2% retracement near 1.3700. Stay below that level kept the sellers in play. The price is back down toward the swing area between 1.3658 and 1.3665, and below that the 50% retracement of 1.36511.
USDCAD is back toward swing area and 50% midpoint