Instrument: USDCAD+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.33964 with take profit at 1.34140
Bearish Preference:
A Sell position is envisaged if the price trades below 1.33575 with take profit at 1.33435
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Empire State Manufacturing Index
USD Retail Sales m/m
Comment:
Headline U.S. consumer inflation came in at 6.4% year-on-year for January, higher than the 6.2% economists had expected, while the widely-watched year-on-year core figure, which takes out volatile items like energy and food, came in at 5.6%, ahead of the predicted 5.5%. These figures suggest that inflation is proving difficult to tame, even after a series of interest rate hikes, opening up the likelihood that the Federal Reserve will see a higher end point for these increases than the market had originally envisioned.
Analysis: SCRUM Team
