Skip to content 
Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.24815 with take profit at 1.24973.
Bearish Preference:
Sell position is envisaged if price trades below 1.24202 with take profit at 1.24054.
Fundamentals:
1:30pm CAD GDP m/m
1:30pm USD Core PCE Price Index m/m
2:45pm USD Chicago PMI
3:00pm USD Revised UoM Consumer Sentiment
Comment: The dollar languished near a one-month low on Friday and was set for its worst weekly performance since May as dovish remarks by the U.S. Federal Reserve together with underwhelming economic data took the steam out of a month-long rally. The dollar’s downtrend began after Fed Chairman Jerome Powell wrong-footed bulls following a policy meeting this week by saying that rate increases were “a ways away” and the job market still had “some ground to cover”.
Analysis: SCRUM Team
