- The USD / CAD pricing price analysis shows increasing pressure on the FED at lower interest rates.
- The American data discovered softer than the expected wholesale inflation and weaker consumer spending.
- The oil was on Thursday after Trump announced probably a nuclear agreement with Iran.
The USD / CAD pricing price analysis shows increasing pressure on federal reserves at lower interest rates. As a result, the dollar is fragile over most of its peers. However, the winning dollar gains remained bribed due to the recent collapse of oil prices.
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The data from the previous session detected softer than the expected wholesale inflation and weaker consumer spending in the United States. PPI unexpectedly fell by 0.5%. Meanwhile, economists expected an increase of 0.2%. Earlier, the data also showed cooler consumer inflation. However, Powell expected a spike because of Trump tariffs. Therefore, it might remain carefully a little more.
A special report has revealed that retail sales increased by 0.1%. Although it was something bigger than the forecast, it was a sharp decline in the previous increase in 1.7%. Poor consumer spending indicates a slowdown in the economy that could further press fed.
Economic figures of the weight on the dollar, allowing Loon to rise. However, a sharp drop in oil retained the lid on gains. The oil was on Thursday after Trump announced probably a nuclear agreement with Iran. Such an outcome would add a supply to the already loose market.
Today is key events USD / CAD
- Pregnant atom consumer feelings
- Pregnant at the inflation expectations
USD / CAD TECHNICAL PRICE ANALYSIS: The bulls are struggling to break 1,4000 resistance
On the technical page, the USD / CAD price pulled back to reset 30 SMA support after not breaking above 1,4000 key psychological levels. However, bias for Bullish remains intact because the price sits a little above SMA with RSI above 50.
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USD / CAD comes with long consolidation. The bulls were taken over when the price broke above the level of resistance to the range. At the same time, the price maintained its position above SMA, indicating the beginning of a bical trend. Therefore, the bulls could soon re-set resistance levels to 1,4000 keys. The pause above will allow the price to climb 1.4100. This would strengthen the bias of the bakery.
However, if from 1,4000 resistance is held by the company, the price could begin consolidation between the support of 1,3900 and resilience at 1,4000.
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