Instrument: USDCAD
Bullish Preference:
A Buy position is envisaged if the price trades above 1.32218 with take profit at 1.32300.
Bearish Preference:
A Sell position is envisaged if the price trades below 1.32078 with take profit at 1.32005.
Fundamentals:
1:30 pm
USD Core PCE Price Index m/m
USD Employment Cost Index q/q
3:00 pm
USD Revised UoM Consumer Sentiment
Comment:
USDCAD gains momentum near 1.3230 ahead of the economic data released from Canada and the US. The Federal Reserve (Fed) Chairman Jerome Powell left the room for another 25 bps rate hike this year. BoC Governor Tiff Macklem said future policy decisions will be based on the incoming data and inflation.
Analysis: SCRUM Team