USDCAD: a lot at stake as the demand for oil starts to decrease which might pull CAD lower. On the other hand, a lot of uncertainty in US when it comes to stimulus and the political situation regarding the election. The chart indicates strong down movement on all 3 timeframes - sell. Next key level at 1.30400
Fundamentals:
USD: FED chairman Jerome Powell speech - Due to participating in a panel discussion about cross- border payments and digital currencies at the International Monetary Fund's annual meeting. Volatility expected at 13:30 UK time.
Unemployment Claims - The number of individuals who filed for unemployment insurance for the first time during the past week. Forecasted to fall from 898K to 860K.
Services PMI – forecasted to rise from 54.6 to 54.7.
Manufacturing PMI – forecasted to rise 53.2 to 53.5.
CAD: BOC Business Survey Outlook - This report is highly respected given its source and timing in relation to interest rate decisions. It can also have predictive qualities regarding future economic conditions because the surveyed firms are selected in accordance with their composition of the nation's GDP. It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Moderate to high volatility expected at 15:30 – 16:00 UK time.
Retail sales – on fall since JULY (24.4%), current 1.1%
BoC Consumer Price Index - Change in the price of goods and services purchased by consumers. This is the most important inflation-related release due to its earliness and broad scope. Forecasted to fall from 0.8% to 0.7%.
⚠️📈Risk Management // Disclaimer 📈⚠️
• Please remember that patience is the second name of this business and risk management is everything.
• Do not risk more than what you can afford and do not be greedy.
• The analysis, insights, and market breakdowns we provide are just ideas so it is your choice to follow our analysis or not.
• We will not be held responsible for any losses on your account as we do not have access to gain control to place your trades, you are the manager of your capital and it is down to you to manage this correctly.
Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
*******************************
Trading Futures , Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Trading View posts and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
We do, however, encourage our clients that are intending to trade, to be fully aware of the risks, fundamentals, technicalities associated with being a profitable trader. Appropriate training is necessary to succeed.
A reminder - trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage.
We do not take responsibility for any trader's loss and gain no reward or have no ownership of any profits made.
Fundamentals:
USD: FED chairman Jerome Powell speech - Due to participating in a panel discussion about cross- border payments and digital currencies at the International Monetary Fund's annual meeting. Volatility expected at 13:30 UK time.
Unemployment Claims - The number of individuals who filed for unemployment insurance for the first time during the past week. Forecasted to fall from 898K to 860K.
Services PMI – forecasted to rise from 54.6 to 54.7.
Manufacturing PMI – forecasted to rise 53.2 to 53.5.
CAD: BOC Business Survey Outlook - This report is highly respected given its source and timing in relation to interest rate decisions. It can also have predictive qualities regarding future economic conditions because the surveyed firms are selected in accordance with their composition of the nation's GDP. It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. Moderate to high volatility expected at 15:30 – 16:00 UK time.
Retail sales – on fall since JULY (24.4%), current 1.1%
BoC Consumer Price Index - Change in the price of goods and services purchased by consumers. This is the most important inflation-related release due to its earliness and broad scope. Forecasted to fall from 0.8% to 0.7%.
⚠️📈Risk Management // Disclaimer 📈⚠️
• Please remember that patience is the second name of this business and risk management is everything.
• Do not risk more than what you can afford and do not be greedy.
• The analysis, insights, and market breakdowns we provide are just ideas so it is your choice to follow our analysis or not.
• We will not be held responsible for any losses on your account as we do not have access to gain control to place your trades, you are the manager of your capital and it is down to you to manage this correctly.
Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
*******************************
Trading Futures , Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Trading View posts and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice.
We do, however, encourage our clients that are intending to trade, to be fully aware of the risks, fundamentals, technicalities associated with being a profitable trader. Appropriate training is necessary to succeed.
A reminder - trading foreign exchange and futures on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you, as well as to your advantage.
We do not take responsibility for any trader's loss and gain no reward or have no ownership of any profits made.