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Highest Conviction Fundamental Driver
& Trade Idea

1. USDCAD buy bias post BoC, CAD inflation and hot US CPI

There remains a USDCAD buy bias after the BoC keeps the door open for a June rate cut and this week's CAD CPI print was on the weaker side. There is now a divergence between the USD and CAD as Governor Macklem is justified in keeping open the prospect of a June rate cut while the Fed look to be on a 'higher for longer' rate narrative as Fed's Powell tells markets that the Fed can keep rates at current levels as long as needed if higher inflation persists.

So, expect buyers from 1.3700 with stops under 1.3540 and take profit around recent highs (1.3820).

There are no other clear opportunities on Monday. However, come along to the London and New York webinar to discuss other short term and longer term opportunities. 
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Trading Opportunities for April

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