Open account Log in

USD/CAD is volatile

Read the article on FBS website

Trade ideas

BUY 1.3500; TP 1.3535; SL 1.3485

SELL 1.3460; TP 1.3435; SL 1.3470

The day promises to be quite interesting for USD/CAD. The market awaits the news about the trade talks between the United States and China. In addition, the Federal Reserve’s Chair Powell will speak at 15:30 MT time and America will release producer price index. On the one hand, concerns about trade negotiations are positive for USD/CAD. On the other hand, forecasts for PPI are low and Powell may sound dovish thus hurting the greenback.

Technically we favor the upside in USD/CAD in line with the general trend and the recent attempts of the pair to break higher and reach the resistance at 1.3535. Yet, momentum is not that strong, so the ultimate direction of the upcoming swing will depend on the news.

usdcad.png

FBS Analyst Team

Share with friends:

Similar

Latest news

Instant opening

The website is operated by FBS Markets Inc.; Registration No. 000001317; FBS Markets Inc. is registered by the Financial Services Commission under the Securities Industry Act 2021, license number 000102/6. Office Address: 9725, Fabers Road Extension, Unit 1, Belize City, Belize.

FBS Markets Inc. does not offer financial services to residents of certain jurisdictions, including, but not limited to: the USA, the EU, the UK, Israel, the Islamic Republic of Iran, Myanmar.


Payment transactions are managed by НDС Technologies Ltd.; Registration No. HE 370778; Legal address: Arch. Makariou III & Vyronos, P. Lordos Center, Block B, Office 203, Limassol, Cyprus. Additional address: Office 267, Irene Court, Corner Rigenas and 28th October street, Agia Triada, 3035, Limassol, Cyprus.


Contact number: +357 22 010970; additional number: +501 611 0594.

For cooperation, please contact us via support@fbs.com.


Risk warning: Before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience.

Any copying, reproduction, republication, as well as on the Internet resources of any materials from this website is possible only upon written permission.


The information on this website does not constitute investment advice, a recommendation, or a solicitation to engage in any investment activity.

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.