- The USD / CAD forecast shows the Caution Bank of Canada, which has amplified the Canadian dollar.
- Participants in the market prices 45% chance of crossing the hip disease in July.
- The data was discovered weaker than American private employment, of which we expect.
The USD / CAD forecast shows the Caution Bank of Canada, which has amplified the Canadian dollar. At the same time, data for US falls weighed on the dollar, allowing most of their peers.
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The Bank of Canada continued to make a rate unchanged as expected on Wednesday. It was another break as policy makers waiting to see the full impact of Trump Traffic Policies. The break allowed Loonie to climb the dollar. At the same time, expectations from interruption assessments was slightly easier after the meeting. Currently, market participants price price 45% chance that the price decreases on the July meeting.
Meanwhile, the American dollar failed against his peers after the data revealed weaker than private employment in relation to the expected. The private sector added only 37,000 new jobs in May compared to forecasts of 111,000 jobs. Miss pointed out the unexpected weakness in the labor market. He raised concerns for more data on the hiring of falls that could push feeded to reduce interest rates.
A special report discovered that the business activity in the American services sector contracted. ISM PMI came to 49.9 compared to 52.0 estimates. This was followed by another report showing further contraction in the production sector. All this indicates weakness in the economy as a result of Trump tariffs.
Today is key events USD / CAD
USD / CAD technical forecast: RSI Divergence suggests weakness
On the Technical Page, USD / CAD price is terminated below the support level of 1,3701 with solid bears. This move allowed the bears to reset the key level 1,3650. Moreover, the price is now siting far below 30ths, with RSI near the Pre-Centoral region, supporting the bear bias.
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However, even though the price made a lower low, RSI made a little more, a sign that is a bear momentum weaker. This weakness can allow the bulls to return for a deep feed opportunity. In such a case, the price can refuse to break over the 30ths.
However, if bears stay in lead, USD / CAD will remain below SMA. Moreover, the break below level 1,3650 would strengthen the bear.
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