Instrument: USDCAD
Technical Analysis
Bearish Preference:
Sell is envisage if price trades below 1.26669 with take profit at 1.26399
Bullish Preference:
Buy is envisaged if price trades above 1.26964 with take profit at 1.27082
Fundamentals:
2:30pm USD Unemployment Claims
Comment: The monthly report published by the US Bureau of Labor Statistics showed on Wednesday that the Core Consumer Price Index (CPI) in January edged lower to 1.4% from 1.6% and came in lower than the analysts’ estimate of 1.5%.
Meanwhile, Canadian Prime Minister Justin Trudeau announced on Wednesday that they will be investing C$15 billion over eight years on public transit to ramp up job creation and economic recovery, possibly helping the CAD stay resilient against its rivals.
Analysis: SCRUM Team
