Instrument: USDCAD
Bullish Preference:
A buy position is envisaged if the price trades above 1.34767 WithTake profit at 1.34883
Bearish Preference:
A sell position is envisaged if the price trades below 1.34564 with Take profit at 1.34453
Fundamentals:
1:30 PM CAD CPI m/m
Median CPI y/y
Trimmed CPI y/y
Comment:
The U.S. dollar traded largely unchanged in early European trade Tuesday, drifting ahead of the start of the latest two-day Federal Reserve policy meeting, the highlight of several key central bank rate decisions this week. Currency moves appear relatively subdued Tuesday, with traders seemingly unwilling to take further positions ahead of the result of this week’s U.S. Federal Reserve meeting. As traders also expect CPI data from CAD, the market might trade sideways this morning till 1:30pmGMT+1
Analysis: SCRUM Team