The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
FX Trader, Loonieviews.net
Summary: USDCAD soared to 1.3519 from 1.3440, despite a surge in WTI oil prices to $64.24/barrel because of another dovish Bank of Canada monetary policy statement in which it underscored its dovish bias by dropping any reference to future rate hikes.