The Bank of Canada releases a monetary policy statement with an update on the interest rate on June 9, at 17:00 MT time.
Tag - cad - canadian dollar
Don’t expect to relax after a super volatile previous week! The market is getting ready for yet another roller-coaster!
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
US unemployment claims fell to the pandemic low. Joe Biden will unveil a $6-trillion budget on Friday. In the meantime, Bitcoin was hit after negative comments from one of the central bankers.
USD/CAD managed to bounce off its support area mentioned in our previous report at 1.2060’s and continued to rise throughout yesterday’s trading reaching as high as 1.2141
USD/CAD has been trading within a tight range for over two weeks now and holding well above 1.2050’s. Read more!
What is better to trade on the week of May 10-14?
Jump in to get the latest market news and fresh trading ideas!
EUR/USD is moving sideways ahead of the ECB meeting. USD/CAD dropped after the hawkish action of the Bank of Canada. The earnings season is underway!
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Europe’s poor vaccination rollout keeps pressing down the euro. Unlike Europe, the USA is in a much better position now. Thus, EUR/USD is likely to dip further this week. Gold is likely to fall as well amid the strong USD. Watch the video to get more trade ideas for this week!
FOMC will share its Meeting Minutes on April 7, at 21:00 MT time.