On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
Trading plan for April 15
- The most important event for today is the release of the business outlook by the Bank of Canada at 17:30 MT time. If it contains some hawkish hints on the current economic outlook by the bank, the Canadian dollar will be supported.
- This weekend brought us some bearish news for the oil market, especially for WTI. According to Russia’s Finance Minister Anton Siluanov, Russia may decide to boost production to fight for market share with the United States. Weakening oil prices may pull the Canadian dollar down.
For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
The oil prices have declined this week after the new Omicron strain was identified. What should we expect next from oil?
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.