Instrument: USDCAD
Bullish Preference:
A Buy position is envisaged if the price trades above 1.32077 with take profit at 1.32232.
Bearish Preference:
A Sell position is envisaged if the price trades below price 1.31708 with take profit at 1.31565.
Fundamentals:
USD
Flash Manufacturing PMI 2:45PM
Flash Services PMI 2:45 PM
Comment:
The dollar fell on Thursday after data showed that U.S. jobless claims rose more than expected in the latest week, though the market was generally viewed as consolidating ahead of key inflation data and the Federal Reserve’s interest rate decision next week. The Canadian dollar strengthened after the Bank of Canada hiked its overnight benchmark rate to 4.75%, the highest level in 22 years.
Analysis: SCRUM Team