Canadian Dollar Weakness Meets a Loaded Event Risk Calendar

The Canadian dollar has weakened as dollar CAD rebounded more than 1.5% off its monthly low into a pivot zone where three time frames converge. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily and four hour structure in dollar CAD and maps the event risk sitting on top of it. The U.S. dollar has been catching a bid as rising prices fuel concerns about the inflationary outlook, even with markets pricing roughly two thirds odds of a Federal Reserve move on rates next month. The Bank of Canada rate decision and U.S. nonfarm payrolls land in the same week, and payrolls carries the most weight for Federal Reserve pricing after Jackson Hole. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share 0:00 Dollar Bid Meets Inflation 0:24 Weekly Rebound Into a Pivot 1:28 Three Time Frames Converge 2:39 Where the Rebound Breaks Down 3:54 Bank of Canada Lands First 4:12 Payrolls Decide the Fed Bet Like and subscribe for more financial market insights. #Forex #StoneX #MichaelBoutros #FederalReserve