Forex: USD/CAD test the 1.0110 after the new release of the BoC

FXstreet.com (Barcelona) - the USD/CAD trades with certain tone of demand following the appointment of Mr. Poloz as the new Governor of the central bank of Canada (BoC). The pair, after several attempts unsuccessfully to go beyond the line at 1.0050 downward in recent days, has bounced from there until the recent highs at 1.0110.

According to Adam Button: "The idea is that since Poloz comes from a Government Agency aimed at boosting exports, it will be more likely to weaken the Canadian dollar to boost exports. That's all. If you believe that it takes a Ph.d. to negotiate, the geniuses behind the last movement of 25 pip at crossroads of the CAD are saying something different."

In view of the analysts in TOS: "so far, there isn't any clear signs of a strong rebound. The graphics suggest that 1.0100/05 remains the fundamental strength in the short term. "Above the 1.0105 there should be a decent rebound in the short term to the range at 1.0140/60"

Published a last holder courtesy of Dow Jones referring to the vision of Mr. Poloz as "sacrosanct" inflation target, or in Christian terms, considerado considered as too important to be violated or interfered with.