Carney’s last, a non event – TD Securities

FXstreet.com (London) - Research teams at TD Securities have noted that it will be the last policy meeting for Governor Carney tomorrow. They see no change in policy or the policy statement (in line with the consensus).

They rather think Mr Poloz’s speech on June 19th will be more important in terms of laying down markers for policy prospects. On the charts, they noted that USD/CAD’s earlier advance was capped in the 1.0365 area and the intraday picture looks a little soft. They would still rather look for limited weakness in USD/CAD at present and said the underlying trend higher remains constructive across a range of timeframes still and that should mean solid support for USD/CAD on dips to the low 1.0300 area.