Yesterday was “dictated” by the dollar but without new highs and explosive growth. By and large, consolidation at the top is continuing. For a breakthrough to new local maxima, a serious reason is needed. In theory, today's data on US GDP might be a reason for this. These are revised growth figures for the first quarter. However, analysts are skeptical enough -...
Tuesday turned out to be another quiet day. So, we have time to talk about global things. For instance, about the possible price of a trade war for the United States, China and the world as a whole. The fact is that trade wars have been discussed often, almost constantly, but at the same time, some things are sounded as self-evident without any refinements to...
Bank of Canada expected to keep rates unchanged due to slow down of their economy. A break above resistance of 1.3525 could see the pair rise to the next resistance level of 1.3660 Buy the breakout.
The technical picture for the USDCAD remains very interesting, particularly with today's rate decision coming from the Canadian central bank. Last week's Canadian inflation data was published, coming in at 1.9% (YoY) for March 2019, up from 1.5% from the previous month; meeting market expectations while printing at the highest level since December, so it will...
Today is a high impact news event on CAD - Bank of Canada ( BoC ) Interest Rate Decision, so, let's prepare for it. If we get pump upwards then there is a pretty strong resistance area which consists of multiple criteria: 1. Previously worked Super Resistances: - The blue line matching exactly with Weekly EMA200 which should act as a resistance - The orange...
On Wednesday April 24 the Bank of Canada will be releasing their short term interest rates I will be paying attention to price in the days prior to the news release. Be patience and let the institutions give you clues as to their true intention! Some nice pending setups on this pair and I will be trading it this week. Stay safe with your stops ;)
Back in November (2018) the yield on the 10 year Canadian treasury hit the upper boundary historical trendline and reversed sharply after briefly overshooting. Fundamentally, interest rates follow GDP figures so we can use these technicals to give us a bit of a prognoses for the financial and economic wellbeing of the country... and its not looking good. Today...
CADJPY remains in a bullish stance as we approach the Bank of Canada Rates Decision (due today at 16.00 CET). Risk appetite hass remained strangely robust, despite Trump's additional Tariff announcement overnight. The rates decision will be a close call, with some analysts calling for a dovish hike, some calling for a hawkish hike.
GBP is the weakest currency going into month-end. Coupled with strong CAD after the Bank of Canada's hawkish statement yesterday, there is further downside potential if we can get through 1.7100.
Bank of Canada Rates Decision is due in 10 minutes. The Loonie has held it's ground, bouncing the pre-defined support zone. Remain flexible and wait until the market digests the statement before taking any action.
So BOC, despite of the positive economic data past few months, remained "cautious" about them stepping off the gas even further (aka raising interest rates). It took me several seconds to speed read the statement, digest it, intepret it and make an actionable plan based on that information. At the time, I thought it was pretty dovish, not VERY dovish.. but dovish...
USD has been increasing consistently over the Asian session. It's a aftermath effect as market digest more of Yellen's yesterday speech, plus there are some more US data coming up and is on average expected to be good. My statistical analysis shows that the data may not be as good as expected. Furthermore I think Governor Poloz's speech later in the day is a more...
Talk about putting a surprise wrench in the system. I have been fairly bearish on WTIUSD - Oil . I went short just before the meeting and got out just two days ago. I was looking to go short oil again. However, oil and CAD move in lock-step, and there is a very strong correlation between interest rates and oil prices. Now that the Bank of Canada is raising...
USDCAD has formed a bearish bat on the monthly and is currently consolidating through what looks like a bearish flag. Major downside is epected over the long term.
Usdcad is continually maintaining bullish market structure, however, the question remains, how high will it continue?