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 March 6
- The CAD traders need to pay attention to the rate statement by the Bank of Canada at 17:00 MT. The bank is expected to keep its rate on hold, but it may provide hints on the future changes to the monetary policy.
- Later, at 17:30 MT time we will see the release of the crude oil data. Analysts forecast an increase of 1.2 million barrels. If the level is higher, the oil prices will slump.
The oil prices have declined this week after the new Omicron strain was identified. What should we expect next from oil?
The USD is strong after the comments of the Federal Reserve members. Gold is under the impact of contradictory factors. Watch the video to get trade ideas for EUR/USD, USD/JPY, XAU/USD, and XBR/USD!
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.