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Instrument: USDCAD
Bullish Preference:
A buy position is envisaged if the price trades above 1.35733 WithTake profit at 1.36046
Bearish Preference:
A sell position is envisaged if the price trades below 1.34887 with Take profit at 1.34497
Fundamentals:
Day 2 BRICS Summit
1:30pm CAD Core Retail Sales m/m
CAD Retail Sales m/m
2:45pm USD Flash Manufacturing PMI
USD Flash Services PMI
3:00pm USD New Home Sales
Comment:
The dollar has edged lower Wednesday as the 10-year Treasury yield has retreated from Tuesday’s peak of 4.366%, a 16-year high, to trade around 4.3%. Yields have soared because of a number of factors, but prime among them are expectations for higher Fed rates for longer amid a resilient economy.
Analysis: SCRUM Team
