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
USD/CAD: a positive impulse
2019-11-11 • Updated
BUY 1.3390; TP1 1.3440; TP2 1.3540; SL 1.3355
USD/CAD recovered last week from the 2018 support line in the 1.3150/00 area. On D1, the Awesome Oscillator crossed the zero line to the upside. We can see that the pair closed yesterday above the resistance line connecting late January and February highs just above 1.33. This may be a neckline of an inverted “Head and shoulders” pattern. The target of this formation lies on the upside, at 1.3540.
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
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.