- The USD / CAD forecast displays a brighter view for the global economy.
- Trump temporarily lowered reciprocal tariffs in most countries.
- Participants in the market are also looking forward to the American consumer inflation report.
The USD / CAD forecast shows a brighter view of the global economy after Trump fell some reciprocal tariffs. At the same time, Canada and Japan agreed to cooperate with Trump Administration to maintain calm in financial markets. As a result, Loonie recovered sharply. However, trade war between the United States and China, maintaining the lid on a risky appetite.
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Trump turned late on Wednesday to temporarily lower reciprocal tariffs in most countries, strengthening the Canadian dollar. At the same time, the dollar refused from a safe currency. A sudden direction showed that tariffs were mainly negotiable tactics. However, trade war between the United States and China continues, clouding prospects for both economies.
Moreover, Canada and Japan are among the countries that decided to work with the truth to maintain peace and calm. This facilitated concern about Canadian economy. At the same time, it was facilitated by Canada’s bank to reduce borrowing costs in response to tariffs.
Participants in the market are also looking forward to the American consumer inflation report. The Sale Report will reduce the expectations of reducing feet. On the other hand, a parachute report can convince policy makers to cut rates faster. However, they can wait to see the influence of Trump tariffs on the economy.
Today is key events USD / CAD
- US CPPI m / m core
- US CPI M / M
- US CPI I / I
- Unemployment Notices USA
Technical Kad / CAD Technical Forecast: Medvedi target for new low below 1,4050
On the technical page, USD / CAD price fell to the support rate of 1,4050. The price is well traded below 30-SMA with RSI near the Pre-Centoral region, suggesting strong bear bias. However, the bears face a solid obstacle to support from 1,4050.
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Earlier, when the price dropped on this support, the reverse of 30 SMA was sharply. Although he violated above the resistance, the bulls fail to maintain the move more, allowing bears to continue to take place on the trend. However, if the 1,4050 support holds the company, the bulls can return. Such an outcome may mean consolidation between support from 1,4050 and resilience at 1,4250. On the other hand, the break below 1,4050 will strengthen the bear bias lower low.
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