USD/CAD Surges Amid a Robust US Dollar and Softening Oil Prices
The USD/CAD pair witnessed a surge amid a resilient US Dollar and dropping oil prices. The Canadian Dollar was impacted by weak employment figures and the decline in oil prices, a crucial export product. Meanwhile, the US is bracing for persistent inflation, with headline and core CPI remaining steady. The financial landscape is further complicated by potential policy shifts by central banks. Both nations’ economic health indicators paint a complex picture that drives the USD/CAD dynamics.
USD/CAD Faces Resistance at 1.3300 Amid Market Caution and Oil Price Surge
Considering the current market dynamics, including the resistance at 1.3300, cautious investor sentiment, oil price surges, and the expectations for limited Dollar strength, it is recommended to consider a SELL signal for the USD/CAD currency pair. Traders could potentially target a trading range of 1.25-1.30 by the end of the year.
Traders focus on US inflation data (CPI) and European Central Bank (ECB) policy decision
Filipino Forex Traders around the world, focused on the upcoming U.S. inflation data and a European Central Bank (ECB) policy decision, both due later in the day. For the time being, global equities are hanging around an all-time high. The US dollar shrugs off weaker Treasury yields. The ECB eyed for economic outlook. To keep […]
How Volatility affects our currency strength monitoring chart and MT4 platform (June 9, 2021)
When investing in the forex market, volatility is an important issue to consider. Understanding volatility, whether low or high, provides traders with an understanding of the risks inherent in trading during a specific time period. Volatility can aid you in deciding which currencies to trade as a Forex trader. It will inform a trader about […]
Gold holds near 1900 After US Jobs Data NFP 559K | Forex Trade Signal Review
Gold is holding near to $1,900 an ounce amid a debate around price pressures after U.S. employers increased hiring in May and raised wages as they competed for workers. But the nonfarm payrolls increase of 559,000 jobs was below the 650,000 forecast of economists. Meanwhile, investors were also assessing comments by Treasury Secretary Janet Yellen […]
Fundamental Forex Analysis today why AUD and NZD dropped after Stronger U.S. Data | Forex Trade Signal Review
The Aussie and Kiwi dollars are sharply lower on USD strength following stronger-than-expected U.S. economic data that supports the idea that the Federal Reserve could soon signal a pull back on monetary support. Particularly for NZD, that would reduce any expected yield advantage if central banks are effectively tightening policy broadly in concert. AUD/USD is […]