After the resignation of Boris Johnson in July 2021, the conservative party was preparing for an election. With 57.4% of the vote, Liz Truss will be the new UK Prime Minister (PM) for the next two years. She is about to change a lot, and we are about to tell you everything you need to know.
GBP/CAD will be volatile
2019-11-11 • Updated
SELL 1.6490; TP 1.6430; SL 1.6510
BUY 1.6580; TP 1.6680; SL 1.6560
GBP/CAD made a huge leap to the upside yesterday and got above 1.65, but arrived at the resistance line from May. The odds are that Friday will once again bring the pair in motion: the market awaits Brexit-related news, while Canada will publish important labor market figures at 15:30 MT time.
The return below 1.6500 will open the way down to 1.6430 (100-day MA) and potentially to 1.6300 (September-October support line). This will happen if no signs of Brexit agreement come through and if Canadian figures surpass the weak forecast. On the other hand, the rise above yesterday’s high (1.6575) will open the way up to 1.6685 (September high).
The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?
The US dollar gained more than 2.5% against other currencies ahead of the NFP statement on Friday. As a result, EURUSD plunged to the 20-year low at 1.0100.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy