
The bad news is that the US economy slowed for the second consecutive quarter in 2022, entering a technical recession.
2019-11-11 • Updated
Trade idea
SELL 1.3370; TP1 1.3300; TP2 1.3230; SL 1.3390
USD/CAD has reached resistance of June highs around 1.3386. It briefly tested levels above this point, but then returned lower.
A small “shooting star” candlestick was formed on D1 at the upper Bollinger band. The pair may correct to 1.33.
A break above the recent high at 1.3445 is needed to open the way up to the new highs at 1.3540.
The bad news is that the US economy slowed for the second consecutive quarter in 2022, entering a technical recession.
As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
The US central bank will lift interest rates at its next meeting on Wednesday, July 27. We'll watch if the Federal Reserve goes with a 75-basis-point or a 100bp hike. Several factors influence the Fed's decision. In theory, the Fed's goal in using a rate hike tool is to tame inflation without causing a recession.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
China may respond to US House Speaker Nancy Pelosi's visit to Taiwan with military provocations, including firing missiles near Taiwan or large-scale air or naval activities…
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.
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