Trading the News: Canada Net-Change in Employment Despite forecasts for an uptick in the jobless rate, a 1.8K rebound in Canada Employment may heighten the appeal of the loonie and spur a near-term decline in USD/CAD as the data highlights an improved outlook for growth and inflation. What’s Expected: Why Is This Event Important: Even though the Bank of Canada (BoC) retains a cautious outlook ...
Trading the News: Canada Consumer Price Index (CPI) Despite forecasts for a rebound in Canada’s Consumer Price Index (CPI), a marked slowdown in the core rate of inflation may drag on the loonie and spark a further advance in USD/CAD as it dampens interest-rate expectations. What’s Expected: Why Is This Event Important: Even though the Bank of Canada (BoC) has turned upbeat on the economy in ...
H4 price is on bullish market condition for the ranging within the following reversal levels: 1.4022 resistance level located above far Ichimoku cloud in the primary bullish area of the chart, and1.3836 support level located near the border between the primary ranging bearish and the primary bullish trend. Absolute Strength indicator is estimating the ranging condition to be continuing. The price is ranging within the following intermediate levels ...
Talking Points: -USD/CAD Technical Strategy: Stay With Trend Above 1.3456 -USD/CAD Has Been Pushed Higher As WTI Crude Oil Prints 6-Year Lows USD/CAD punched higher to new 11-year highs and looks poised to close in on the 2004 high of 1.3908. There is a lot of doubt surrounding the US Dollar going into December 16, the date the Federal Reserve is presumed to announce a rate hike and lay out the requirements for subsequent hikes. Though it may appear tempting to sell ...
EUR/USD: No change. We are bearish and prefer to fade upticks against resistance in the 1.1300 area. A move below 1.1135 would signal lower towards our targets near the 1.1050 area and then the 1.0815 May lows. Our greater downside targets are at the 1.0460 year-to-date lows. GBP/USD: Thursday’s bullish engulfing candle has encouraged us to re-instate our bullish view. We are looking for a move back towards the 1.5930 range highs. ...
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