CAD: Budget might give some help to CAD – ING

💡 DMK Insight

Canada’s budget announcement could shake up the forex market, especially for CAD pairs. With SOL at $161.84 and ADA at $0.55, traders should keep an eye on how the budget impacts the Canadian dollar. If the government signals increased spending or fiscal stimulus, we might see CAD weaken against major currencies, which could create volatility in related assets. For those trading CAD pairs, watch for key levels around recent highs and lows to gauge market reaction. Also, consider how this could ripple into crypto markets, as a weaker CAD might push investors towards digital assets like SOL and ADA as alternative stores of value. The flip side? If the budget is perceived as fiscally conservative, CAD could strengthen, leading to potential sell-offs in crypto. Keep an eye on the immediate aftermath of the announcement for trading opportunities.