-
Canadian Dollar Forecast: USD/CAD Flirts with 50-Day SMA
USD/CAD may attempt to retrace the decline from the monthly high (1.3947) should it fail to close below the 50-Day SMA (1.3722). USD/CAD seems to be unfazed by the unexpected decline in Canada Employment as it’s little changed from the open, but signs of a weakening labor market may push the Bank of Canada (BoC) to further support the economy as job growth contracts 2.8K in July after falling 1.4K the month prior. As a result, the Canadian Dollar may face headwinds ahead of the next BoC meeting on September 4, and it remains to be seen if Governor Tiff Macklem and Co. will implement lower interest rates following ... (full story)
- Comments
- Subscribe
-
- Older Stories
From financemagnates.com|Aug 9, 2024Octa, a financial broker with globally recognised licenses, celebrates its 13th birthday this summer. In some cultures, the number 13 has a special significance. For example, the ...
From youtube.com/cmegroup|Aug 9, 2024Small rally in the Japanese yen. Bob Iaccino has more data.
From econoday.com|Aug 9, 2024Global data on net are posting near consensus estimates, at minus 7 and just below the zero line on Econoday’s Relative Performance Index (RPI). Yet when excluding what have been ...
-
- Newer Stories
From spectramarkets.com|Aug 10, 2024We are getting more, not less confused. It looked like NFP, ADP, ISM Manufacturing, and Initial Claims were all pointing to a meaningful slowdown in the US jobs market, but now it ...
From bnnbloomberg.ca|Aug 10, 2024Former Twitter Chairman Omid Kordestani sued the social media company, claiming that billionaire owner Elon Musk is refusing to cash out more than $20 million worth of shares he ...
From bnnbloomberg.ca|Aug 10, 2024Speculative traders sharply pulled back on bets for a weaker yen amid wild swings in the Japanese currency and a vicious market selloff, according to the latest Commodity Futures ...
- Story Stats
- Posted: Aug 10, 2024 12:55am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,792
