All cad being manipulated
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Disliked{quote} Come on banks who buys after nearly 10 days of pure bull bars All cad being manipulatedIgnored
There were a couple of factors at play last week and one more major factor that looms is falling in value.
One is that the Canadian dollar tends to trade in the same direction of oil prices. But as the price of West Texas Instrument crude oil, which is the U.S. benchmark for oil, has trended higher over the past few months, the price of Canadian Western Select, an approximation for the price Canada’s oil sands producers realize on their sales, has lagged behind owing to a glut of Canadian inventory.
The second was Friday’s Canadian jobs report, which showed that the economy shed 88,000 jobs — the biggest decline in nine years. The decline in employment was largely attributed to wage hikes driven mainly by Ontario introducing a new $14 minimum wage.
The third factor looming on the horizon has to do with U.S. president Donald Trump’s threats to withdraw the U.S. from the North American Free Trade Agreement (NAFTA). Should that happen, it would most likely have a detrimental impact on the loonie, as Canada would stand to lose a significant volume of its exports from its single biggest trading partner.
Dislikedas long daily not closed aboved 1.3550 i will enter short Thats the signal for me. (target 133927) if close aboved i will wait for 1.36165 there is a blind short there / Free )Ignored
DislikedThe third factor looming on the horizon has to do with U.S. president Donald Trump’s threats to withdraw the U.S. from the North American Free Trade Agreement (NAFTA).Ignored
Disliked{quote} It's not a threat. It's already a done deal called USMCA, which the US will ratify in 2019. Here's an analysis on what's going on with the pair. Loonie going to US$1.55 by April. https://medium.com/@joe.mchugh/lower...a-1c50cd68ec42Ignored
DislikedThere were a couple of factors at play last week and one more major factor that looms is falling in value. One is that the Canadian dollar tends to trade in the same direction of oil prices. But as the price of West Texas Instrument crude oil, which is the U.S. benchmark for oil, has trended higher over the past few months, the price of Canadian Western Select, an approximation for the price Canada’s oil sands producers realize on their sales, has lagged behind owing to a glut of Canadian inventory. The second was Friday’s Canadian jobs report,...Ignored