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Thread: USD/CAD

  1. #21
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    USD/CAD - fundamental analysis-May 7,2018

    The pair continued to trade within a tight range and consolidate for another week.The pair had broken down through the 1.30 region which established the bears as being in control of the pair and since that time,we have been seeing the pair under pressure.The only major news of note last week was the employement report from the US in the form of NFP data.
    In the coming week, we have the PPI and the CPI data from the US. All of these are likely to have a large impact on the pair in the short term.The dollar would continue to be strong as long as the incoming data does not miss the mark by much. The traders continue to believe that there would be atleast 2 more rate hikes from the Fed and as long as the economic data supports that view, we should be seeing the dollar being buoyed. The CAD could also gain in strength based on the employment numbers and that is why we believe that this pair, among all, is the one that is likely to range and consolidate for much of the short and medium term.

  2. #22
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    USD/CAD Fundamental analysis..week of may 14, 2018


    *pair has been moving up and down(last week)

    The pair fell hard during the course of the week after having pushed higher earlier in the week.This led to some choppy trading during the week but,the bears seemed to have taken control of the pair and the pair finished lower during the week and this may continue in the coming week.

  3. #23
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    Quote Originally Posted by Vichu View Post
    USD/CAD Fundamental analysis..week of may 14, 2018


    *pair has been moving up and down(last week)

    The pair fell hard during the course of the week after having pushed higher earlier in the week.This led to some choppy trading during the week but,the bears seemed to have taken control of the pair and the pair finished lower during the week and this may continue in the coming week.
    According to me, bullish trend has been started already! I think, 1.2531 was a good buy level, although I missed that change, if market touches this level once again then surely, I’ll open a buy trade here.

  4. #24
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    USD/CAD remains in range above 1.31 despite sharp WTI fall

    • Weekly EIA report shows a surprise increase in crude inventories.
    • Crude oil reacts negatively to the report.
    • US Dollar Index stays in a tight range above 94 ahead of FOMC.

    ibri">The USD/CAD pair continues to fluctuate near the lower band of its daily range in the NA session as investors refrain from taking large positions before the FOMC publishes minutes of its June meeting later in the session. As of writing, the pair was trading at 1.3130, down 0.13% on the day.
    ibri">Earlier today, the data released by the ADP revealed that the private sector employment grew by 177K in May to miss the experts' estimate of 190K. On the other hand, PMI data released both by Markit and the ISM showed that the business activity in the service sector expanded at a faster rate than markets were expecting. Following the mixed macro data, the US Dollar Index stays in the red a little above the 94 mark.
    ibri">On the other hand, according to the weekly report published by the Energy Information Administration, crude oil stocks in the U.S. increased by 1.245 million barrels. The initial market reaction to the report dragged the barrel of West Texas Intermediate to a fresh 3-day low at $72.92. At the moment, the barrel of WTI was down 50 cents on the day at $73.60.
    ibri">Although a fall in oil prices generally hurt the demand for the commodity-sensitive loonie, a lack of interest for the greenback ahead of FOMC forces the pair to stay stuck in its range.
    ibri">“In terms of what to look out for, our US economists believe that discussion regarding trade developments and the flattening yield curve will be of note given recent comments by Fed officials. Regarding the former, many policymakers have mentioned this as a key risk to their outlook," Deutsche Bank said in a recent report.
    ibri">Technical outlook
    ibri">Technical resistance for the pair could be seen at 1.3200 (psychological level/20-DMA), 1.3265 (Jun. 29 high) and 1.3350 (Jun. 28 high). On the downside, supports are located at 1.3110 (Jul. 4 low), 1.3025 (50-DMA) and 1.2925 (100-DMA).

  5. ARIONFORXtarder
 

 
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