- The USD / CAD sign indicates that the Canadian dollar is the weakening of critical inflation data.
- Merchants expect traces of politics at the Jackson holes symposium.
- The United States will guarantee the security of the country in the case of the Peace Agreement.
The USD / CAD look worsened that the Canadian dollar weakens primarily by crucial inflation data from Canada. Meanwhile, the dollar remained strong because traders looked at the development in the peace conversation to end the war in Ukraine.
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Canada is set to release pivotal inflation data that will shape the prospects for reducing Canada. Economists expect the monthly digit to speed up from 0.1% to 0.3%. A large of the expected number would allow Boč to continue pausing. On the other hand, if inflation is not soft, policy makers can feel more pressure to reduce borrowing costs.
Meanwhile, traders predict the Symposium of the Jackson holes, where Powell could drop traces of the next course reduction. Most merchant expects that from Povell from Povell and the signal when the Central Bank will reduce the rates. However, that may not be the case.
The DBS analysts expect Powell to deliver the calibrated message, “holding the door open to ensure the rule of the labor market, and also warns an excessive or fast reduction in speed,” they said in the notes.
Meanwhile, Trump said Ukraine president that he would now guarantee the security of the country in the case of a peace agreement. However, there was little clarity on what the following could happen.
Today is key events USD / CAD
- Canada CPI M / M
- Canada Median CPI I / I
- Canada TrenMed CPI I / I
USD / CAD Technical Outlook: Bukovi target resistance to 1,3875
On the Technical Page, USD / CAD price price over 30-SMA with RSI above 50, suggesting Bikovska bias. The bulls recently took compensation after the previous fall to continue below the level of support from 1,3750. The price was interrupted above the level and began to create higher high and lower.
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At the same time, the price is traded in a bical channel in a larger scale. Moreover, she recently touched the channel support and now bounced more. The bulls watch the level of resilience at 1,3875. The pause above this level would strengthen the bias of the bakery.
However, if the level keeps the company, the price can be returned to the channel support before climbing. Meanwhile, the break under the channel support would signal probably a turnaround.
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