[ad_1] Share: Bullish-engulfing candlestick pattern on the daily chart suggests buyers are in control. The first major resistance at 1.3600, followed by several key levels up to 1.3804. Downside risks include a drop below 1.3489, potentially targeting the 200-DMA at 1.3462 and the 50-DMA at 1.3345. The Canadian Dollar (CAD) losses ground against
[ad_1] US: The Fed hiked by 25 bps as expected and kept everything unchanged. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M figures coming in at 0.16%. The US PMIs missed expectations
[ad_1] USD/JPY TECHNICAL ANALYSIS USD/JPY (U.S. dollar – Japanese yen) rallied strongly from mid-July through late August, but its bullish momentum has begun to fade over the past few sessions after prices failed to clear channel resistance at 147.35. Following this rejection, the pair has transitioned into what appears to be a consolidation phase, marked
[ad_1] Next week (Wednesday) the next meeting of the Bank of Canada will take place, and economists fear that in the context of accelerated inflation, the leaders of the Canadian Central Bank will be forced to go for a new increase in interest rates, even despite the risks of plunging the national economy into recession.
[ad_1] Canadian Dollar, USD/CAD, Hanging Man – Technical Update: Recommended by Daniel Dubrovsky Get Your Free USD Forecast The Canadian Dollar has been losing ground to the US Dollar of late, but a closer look at USD/CAD shows that the near-term uptrend might be losing momentum. On the daily chart below, we can see that
[ad_1] Share: Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613. Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls. Lackluster Canadian retail sales data
[ad_1] USD/CAD PRICE, CHARTS AND ANALYSIS: The Loonie Arrests Slump Largely Thanks to Weak US PMI Data. More Weakness Ahead for the Canadian Dollar? Core Retail Sales Data Paints a Worrying Picture for the Canadian Economy. Market Participants Are Now Pricing in a Chance of Steeper Rate Cuts in 2024 from the US Federal Reserve.
[ad_1] The USDCAD has found sellers near the 61.8% retracement of the 2023 trading range. With the USDCAD up each of the trading days today, will the sellers look to lean against the retracement level and start a corrective move to the downside? The 61.8% retracement comes in at 1.35674. The high price stalled at
[ad_1] Share: USD/CAD trades little changed in the mid-1.35s. Economists at Scotiabank analyze the pair’s outlook. Weak risk mood remains a headwind for CAD Weak risk mood and marginally lower energy prices are enough to keep the CAD tone defensive for the moment while relatively stable short-term spreads may act as something of
[ad_1] Canadian Dollar, USD/CAD, Technical Analysis, Retail Trader Positioning – IGCS Update Canadian Dollar depreciated to its weakest level since late May Retail traders have been increasing USD/CAD downside bets Alongside technical cues, positioning supports a bullish bias Recommended by Daniel Dubrovsky What is the outlook for the US Dollar? The Canadian Dollar continued its
