Daily news: The US and Canada reached an agreement

Daily news: The US and Canada reached an agreement

  • Canada and the US reached the final decision on the NAFTA deal on Sunday. It has been called United States-Mexico-Canada (USMCA) agreement since now. Trump will sign the agreement at the end of November and submit it to the US congress. Tariff decisions on steel and aluminum will be conducted in a different letter. An increase of dairy access to the Canadian market and protection of Canadian cultural industries are among the key points of these negotiations. As a result, USD/CAD dropped massively to its May’s lows below the 200-day MA at 1.2867 and aiming downwards the support at 1.2787. The next support is at 1.2740. If the positive news on the USD comes out, the pair can increase. In that case, it will return to resistance at 1.2847.

USDCADDaily.png

  • The figure of manufacturing PMI of Great Britain was released today at 11:30 MT time. It reached higher than expected level and overcame the last month results (53.8 vs 53.0). At the same time, Brexit talks keep affecting the GBP. The UK finance minister Hammond said that the Canada-style trade agreement is not suitable for Great Britain. He also noted that once the deal would be reached, a boost to the UK economy could be possible. For now GPB/USD is trying to climb to the resistance at 1.3080. The next support for the pair is at 1.2943. In case of negative news, support lies at 1.2985 (50-day MA).

GBPUSDDaily.png

  • The USD is awaiting for the manufacturing PMI index as well. It is forecast to be lower, than in the previous period (60.1 vs 61.3). In case of positive news, the resistance for the USD index is at 95.00, otherwise it will fall to the support at 94.45.

Screenshot_1.png

  • EUR/USD keeps struggling with the problem of Italian budget. Up to now, the EU is anticipating more information concerning Italian budget data and responses from rating agencies. At the moment the pair is testing the 50-day MA at 1.1610, the next support is at 1.1506. If bulls strike back, the resistance is at 1.1661.

EURUSDDaily.png

Follow us for more news!

Similar

China property will decelerate in 2019

In 2019, China's massive property market is anticipated to speed down further, with smaller price leaps as well as diving home sales contributing to pressure on the world's number two economy, according to a Reuters survey…

Japanese economy contracts most for four years

In the third quarter, the Japanese economy shrank the most for more than four years due to the fact that Japanese companies reduced spending, thus threatening to affect the investment outlook next year because the export-reliant Asian country grapples…

Latest news

Greenback edges down

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…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera