Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.23088 with take profit at 1.23248.
Bearish Preference:
Sell position is envisaged if price trades below 1.22459 with take profit at 1.22283.
Fundamentals:
1:30 pm USD Philly Fed Manufacturing Index
USD Unemployment Claims
Comment: The dollar rose in early European trade Thursday, climbing to levels not seen for around two months after the Federal Reserve surprised markets with a hawkish turn, bringing forward its timetable for raising interest rates to 2023. The U.S. Federal Reserve concluded its latest two-day policy meeting on Wednesday. The jolt came when new projections saw 11 of 18 central bank policy makers plan for two interest rate increases of 25 basis points in 2023, a year earlier than expected, and a sharp change from the previous meeting when none of these officials were looking for hikes during that year.
Analysis: SCRUM Team