Online Forex broker
On Friday, the Canadian dollar stood still, having demonstrated steep losses on Thursday. In North American trade, the currency pair USD/CAD showed 1.3066, losing nearly 0.11%.
Market participants are set for mixed outcomes from durable products reports for July. As for core durable goods, they’re expected to soar to 0.5%. Durable products are anticipated to dip, losing approximately 0.7%. Traders will closely watch Federal Chair Jerome Powell’s speech at the economic meeting at Jackson Hole.
This week the Canadian currency has demonstrated considerable volatility and slumped by 0.62% on Thursday. The sink turned out to be a response to another wave of duties between China and America that came into effect on Thursday. The duties, valued at approximately $16 billion, showed up notwithstanding the fact that the sides were holding low-level trade negotiations at the same time. As anticipated, the negotiations didn’t bring any positive outcome. The further escalation in trade sanctions is undoubtedly a bad thing for the export-reliant Canadian economy. Additionally, it’s also putting pressure on investor risk appetite for minor currencies, including Canada’s currency. If American imposes further duties on its trading partners, then the Canadian dollar is going to sailing into mighty headwinds.
The key US financial institution came up with the minutes of its July gathering, at which policymakers left the benchmark rate on hold. The minutes stressed that the American economy is firm enough and hinted that the Federal Reserve would have rates increased in September. However, policymakers told that the plan to proceed with gradual rate lifts could have to be stopped if the global trade conflict escalates, as the trade feud represents a key hazard to the American economy. Fed Chair Powell is believed to refer to trade clashes and also the fact that wage surge and inflation have lagged, notwithstanding a booming American economy.
On Wednesday, Bitcoin managed to rally in the face of mixed crypto trading reacting to news that Seed CX is geared up towards capturing institutional traders via a bitcoin spot trading market…
On Wednesday, the Japanese yen headed south versus its major peers because investor risk appetite improved during Asia trade, although worries over decelerating global surge and US-China trade clashes will probably cap gains in risky assets…
On Tuesday, the evergreen buck managed to stabilize in Asia because the International Monetary Fund had its 2019 as well as 2020 global surge forecasts cut overnight…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
