The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Elections in Canada: what do they mean for the CAD?
Today, the election in Canada will determine whether the Liberal Party Prime Minister Justin Trudeau or the Conservative Party leader Andrew Scheer will lead the government.
According to analysts, the most likely scenario is a government that does not command an absolute majority. Plus, some of the experts suggest that the minority administration led by the Conservative party would be better for the Canadian dollar than the one led by Trudeau and his team. The reason behind this opinion lies in the Conservative party's promises to remove Trudeau's oil regulations. It will help to boost the CAD, as it is the commodity-linked currency.
At the moment, USD/CAD is trading at the lowest levels since July. If the loonie is supported today, the support for the pair will lie at 1.3083. The next support will be placed at 1.3052. In case of a reversal, you need to pay attention to the 1.3132 level. The next resistance will be placed at 1.3145.
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!