despite the overall USD selloff in March. I'm thinking of enter a long position on that pair. Canadian dollar is worth watching on the new week: Bank of Canada meeting on Wednesday, retail sales and inflation data on Friday will likely keep the market on the stretch. Employment figures gave out a warning signal last week: the upbeat headline figures were achieved only due to a surge in part-time jobs, while the full-time employment went down dramatically. Daily USD/CAD, data to watch on the new week: » Complete Economic Calendar. What is more, despite the current oil stabilization, price decline could easily resume in June when the impact of Iran factor increases. Solid buy orders are clustered around the.2400 mark: you may see the basing candles formed recently on a daily chart.
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We forecast another 50 bps cut over the May-September period. Long bullish support, usdcad is in upward trend channel. This weeks bunch of releases creates a high chance for pushing above the local.2700 resistance. However, these days we are much more concerned by the banks Monetary Policy Report. While the Fed is expected to launch a rate-hiking cycle during the same months, monetary policy divergence will likely put the USD/CAD forex per comentarios pair under pressure, offering new trading opportunities. The picture remains bullish above.2350. Some of the sings witch lead me to that decision. Current BOC economic forecasts still do not fully consider the oil shock effect, so the new ones will likely reflect lower inflation and growth expectations. In this case, pressure on the export-dependent Canadian economy will resume. Kira Iukhtenko, FBS Markets. Technical picture, uSD/CAD rally has clearly paused over the past.5 months, but the overall trend remains bullish. Buy the pair on a breakout, targeting.2780 and.2830.
Some of the sings witch lead me to that decision. Canadian dollar is worth watching on the new week: Bank of Canada meeting on Wednesday, retail sales and inflation data on Friday. However, these days we are much more concerned by the banks Monetary Policy Report. Current BOC economic forecasts still do not fully consider the oil shock effect. ; USD /CAD News (US Dollar Canadian Dollar ).