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Thread: USD/CAD

  1. #41
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    USD/CAD Eyes Support as Crude Oil Prices Rise in description to the subject of Global Trade News

    Canadian Dollar outperforms taking into account clumsy oil very roughly global trade developments
    Trump targeting telecommunications may sap Asia optional accessory upside potential
    AUD/USD looking at a necessary jobs fable that may surprise optimistically
    The Canadian Dollar was the best-drama major as soon as reference to Wednesday, bolstered by a couple of optimistically-interpreted updates coarsely speaking global trade news. Firstly, there was a general pickup in sentiment after US President Donald Trump said that he was planning to defer imposing auto tariffs for taking place to 6-months. This helped boost equities across the board.

    Secondly, US Treasury Secretary Steven Mnuchin far and wide-off along in the hours of daylight noted that the United States, Canada, and Mexico are nearing a concurrence to cut off metal tariffs. This is a sticking business around the USMCA, which is the exchange to NAFTA, that yet needs to be certified by Congress. Combining this pursuit helped to boost sentiment-associated clumsy oil prices, considering CAD brushing off a contaminated local CPI checking account earlier in the daylight.USD/CAD so once considering more struggled to crack above resistance in the midst of 1.3469 and 1.3445 in what appears to be two-timing upside breakout noted earlier in the week. This leaves prices looking at stuffy-term accord behind again at 1.3390 which if cleared, opens the right to use to investigation congestion desist along in the midst of 1.3291 and 1.3251. The latter has finished its job at keeping prices in congestion mode past March. It is shapeless if Asia Pacific equities can follow-through and echo gains from Wall Street. S&P 500 futures are tiny tainted as soon as offending downside bias. Chinese equities could war out for a rough day after Trump signed an order based re national security grounds that could restrict US businesses from using telecommunications equipment that may p.s. a threat to security.

    While not targeting any specific company, this is anticipated to restrict Chinese firms such as Huawei and ZTE Corp, from US activities and it may complicate ongoing US-China trade talks. If there is risk-off trade into the future, the touching-risk Japanese Yen may accelerate gains that we have seen in recent days. The sentiment-related New Zealand Dollar could be vulnerable. Meanwhile, the Australian Dollar will be awaiting the upcoming local jobs savings account. This is data that has recently increased in importance after the RBA, after leaving rates unchanged last week, emphasized improvements needed upon that stomach for inflation to be consistent behind their take hope. Australian economic news-flow has still been tending to outperform relative to expectations. Thus, AUD/USD may locate sticking together upon this data.

  2. #42
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    The USD/CAD pair bottomed earlier today at 1.3399, the lowest level since last Friday but the negative tone shifted dramatically.

  3. #43
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    USD/CAD reverses a dip to sub-1.3400 level as Oil retreats from daily tops


    The USD/CAD pair quickly reversed an intraday dip to sub-1.3400 level and rallied around 30-pips during the early North-American session.
    The pair extended its recent pullback from levels beyond the key 1.3500 psychological mark and dropped to over one-week tops in the last, albeit once again showed some resilience below the 1.3400 round figure mark.


    The US Dollar held on to its daily gains near three-week tops - rather unaffected by a subdued action around the US Treasury bond yields and turned out to be one of the key factors that extended some support to the major.
    This coupled with a modest intraday pullback in Oil prices undermined the commodity-linked currency - Loonie and further collaborated to the pair's goodish bounce to the 1.3420-25 region, though lacked strong follow-through.
    On the economic data front, the disappointing release of existing home sales data from the US did little to influence the price action, with the USD/Oil price dynamics turning out to be key factors driving the pair on Tuesday.
    It would now be interesting to see if the pair is able to capitalize on the rebound or once again meets with some fresh supply at higher levels as the focus remains on Wednesday's important release of the latest FOMC meeting minutes.

  4. ARIONFORXtarder
 

 
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