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Instrument: USDCAD
Bullish Preference:
Buy position is envisaged if price trades above 1.36408 With take profit at 1.36522
Bearish Preference:
Sell position is envisaged if price trades below 1.36009 with Take profit at 1.35834
Fundamentals:
1:30PM USD Core Retail Sales m/m
Retail Sales m/m
1:30PM CAD CPI m/m
Median CPI y/y
Trimmed CPI y/y
Comment:
The Bank of Canada (BoC) like many Central Banks globally is keeping a close watch on Geopolitical developments which could have a knock-on effect on inflation. This comes not long after warnings from BoC Deputy Governor Nicolas Vincent who warned that supply shocks, limited competition and technology could have shifted the pricing landscape permanently. Deputy Governor Vincent also said he could envision firms continue to increase prices at larger and more rapid rates which is a worry moving forward.
Analysis: SCRUM Team
