- The USD / CAD forecast shows a weak Canadian dollar such as BOK rating to bet.
- Inflation in Canada in July entered 1.7% of the previous reading of 1.9%.
- The oil fell in the middle of progress in peace talks with Russia and Ukraine.
The USD / CAD forecast shows a weak Canadian dollar such as the grading the BOC is invested after the soft inflation of the data from Canada. At the same time, Loonie decreases due to the fall of oil prices due to peace talks between the United States, Russia and Ukraine.
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Data on Tuesday found that inflation in Canada in July abolishes 1.7% of the previous reading of 1.9%. At the same time, three-month basic inflation is eased from 3.4% to 2.4%. The report has led to an increase in the Bank in Bet Cost Cest Bets for October. At the same time, the probability that the September cross rate rose from 31% to 39%.
“I think the most important part of the report is established in the CPI core rates,” Robert said and the older Macro Strategy of Canada on TD securities. “So, even with CPI-Trim and the middle road they continue to run near 3% of the year, the bank put a little more weight on those three-month basic rates.”
The Canadian dollar also fell due to falling oil prices. The oil fell in the middle of progress in peace talks with Russia and Ukraine. The end of the war could lead to the raising of sanctions on Russian oil. Therefore, this could lead to supplying attacks.
Today is key events USD / CAD
USD / CAD Technical forecast: The bulls face the level of resilience at 1,3875
On the technical side, the USD / CAD price gathered to the level of resilience at 1,3875. At the same time, it is well managed above the 30ths, with RSI in the coating region, suggesting solid bias.
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The bulls made a sharp rally from the 30th support to the current level, showing solid momentum. However, after such a strong move, they face the level of resilience at 1,3875. This level has caused the price before backwards before and it can be done again.
If USD / CAD pauses on current resistance, the price can be dragged back to reset 30ths. After that, it can be broken or rejected or bounced more to restart. Meanwhile, the break above the resistance will strengthen the bias of the bakery, because the price will make higher high.
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