Disliked{quote} thx i do read all i find about fundamental but i still don't get my head around them i guess i have to keep reading btw do u think that today CAD strength was because the housing starts beated expectations?Ignored
concentrate on central bank policy statements and the speeches from the govenors.
Looking at the CAD - think that this was driven by oil (WTI rallied today), because Liyba's largest oilfield closed down
http://www.reuters.com/article/us-gl...-idUSKBN17C02S
Here is an example of how I would approach fundamentals for the CAD
View the latest statement
http://www.bankofcanada.ca/2017/03/f...se-2017-03-01/
Typically, I would look through this statement to see if these issues have been addressed.
Here is the recent employment stats
http://www.statcan.gc.ca/daily-quoti...70407a-eng.htm
Employment seems to be positive
Here are the latest CPI figures
http://www.statcan.gc.ca/daily-quoti...70324a-eng.htm
Exports had a huge drop
http://www.statcan.gc.ca/daily-quoti...70404a-eng.htm
So its a bit of a mixed picture and Poloz also gave a recent interview:
http://www.macleans.ca/economy/econo...erybody-loses/
http://www.macleans.ca/economy/econo...ut-the-band-2/
So looking at it - we can see that he thinks there is a lot of slack in the economy, he has concerns about housing indebtness and has issues with the economy
Will his position change over last month -can't see it.
Into this we have oil rallying due to Syria and Libya- when oil rallies it can go on for a while
Will price move 800+ pips - on the balance of probabilities I doubt it.
What we need is a change of bias - and that is not what we have now.
But overall I am slightly bearish on Wednesday
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