Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.25254 with take profit at 1.25386.
Bearish Preference:
Sell position is envisaged if price trades below 1.24796 with take profit at 1.24607.
Fundamentals:
1:30pm USD PPI m/m
USD Core PPI m/m
3:00pm CAD BOC Monetary Policy Report
CAD BOC Rate Statement
CAD Overnight Rate
3:30pm USD Crude Oil Inventories
4:00pm CAD BOC Press Conference
5:00pm USD Fed Chair Powell Testifies
Comment: The dollar edged lower in early European trade Wednesday, handing back some of the previous session’s sharp gains after a jump in U.S. inflation raised expectations of an early move by the Federal Reserve to tighten monetary policy. U.S. consumer prices rose by 0.9% in June, the most in 13 years, with the year-on-year figure soaring 5.4% as the economic recovery gathered momentum.
Analysis: SCRUM Team