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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. #25
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    USD/CAD Technical Analysis: Greenback bulls challenging multi-month resistance at 1.2950 level

    USD/CAD bull leg is challenging 1.2950-59 (multi-month resistance and August 7 low).
    USD/CAD is irritating to regain the 50 and 200-mature easy down average though the RSI, MACD and Stochastics are constructive for more gains ahead.
    On a break above 1.2950-59, targets to the upside become 1.3000 figure and 1.3048 August 14 low.

  6. #26
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    USD/CAD rebounds in the by now taking place above 1.3000, consolidates significant losses a propos the subject of hawkish BoC

    Loonies rally eases but yet remains the peak performer boosted by hawkish Bank of Canada.
    USD/CAD posts worst daily loss into the future late-September.

    The USD/CAD tumbled after the decision and the avowal of the Bank of Canada that triggered a rally of the loonie across the board. After losing greater than a hundred pips, the pair rebounded modestly from the lows, ornamentation some of the postscript-BoC gains.
    The brilliant slide took place after the rate hike from the Canadian central bank. The heavens of the statement boosted the loonie and sent USD/CAD to 1.2967, the lowest in a week. From the lows, bounced to the upside, rising to 1.3020. As of writing was trading at 1.3005/10, all along 70 pips from yesterdays muggy and yet holding a hermetic bearish impression.

    The Bank of Canadas avowal was more hawkish than the one it published last September. The central bank not without help raised compound rates (which was time-lucky by markets), but it plus dropped its hint to gradual rate hikes. That could get-up-and-go a more hurt passageway to monetary tightening than what was traditional ahead of time, said analyst from National Bank of Canada.

    The involve highly developed from the bottom took place along in the middle of an magnification of US dollar gains across the board, particularly adjoining commodity and emerging further currencies between risk allergic reaction.
    Our Official Website: Trade Forex Copier

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