USD/CAD reacts to fundamentals

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The USD/CAD has been mapping the recently released macroeconomic data releases and the US Federal Reserve monetary policy statement. At 13:30 GMT on Wednesday, it was revealed that US Retail Sales have increased more than thought. Meanwhile, the Canadian inflation hit expectations. Namely, there is more demand for the USD than though and the CAD demand remains as forecast. This caused a surge and breaking of the channel up pattern to the upside.

Later on, at 19:00 GMT, the US Fed caused an initial surge of the USD by decreasing stimulus. However, after almost reaching the 1.2950 mark, the rate began a decline, as the markets realized that monetary easing and the increasing of the supply of the USD will continue, despite the lower pace. This resulted in a decline, which by the start of Thursday's European trading had reached the 1.2800 level and had no technical support.

If the rate continues to decline and the 1.2800 mark does not act as support, the rate could reach the 200-hour simple moving average at 1.2754. Further below, note the weekly simple pivot point and a previous low level zone at 1.2710/1.2730.

However, if the USD recovers against the CAD, a potential surge would have to face the resistance zone and levels at 1.2835/1.2853, before aiming at the 1.2900 mark.
Back to articles

Actual Topics

Thu, 16 Dec 2021 10:49:23 GMT

EUR/USD returns above 1.1300 after Fed dip

The EUR/USD dipped 35 base points on Wednesday at 19:00 GMT, as the US Federal Reserve announced that it would reduce stimulus. However, the dip was followed by a surge, as the markets realized that despite the decrease the Fed is still set to increase USD supply. By the middle of Thursday's trading, the pair had returned to the

Thu, 16 Dec 2021 07:39:08 GMT

GBP/JPY reaches resistance line

The GBP/JPY has surged to the resistance line, which connects the rate's high levels since late October. The surge was caused by risk on sentiment in the markets, which caused a drop of the Japanese Yen. The sentiment was created by the US Federal Reserve Monetary Policy Statement. The central bank decreased stimulus, as it observed a recovery of the

Subscribe to "Fundamental Analysis" feed

Subscrever
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre as opções binárias do Dukascopy Bank / Plataforma de negociação Forex, SWFX e outras informações relacionadas com Trading,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para saber mais sobre a plataforma de Trading / Trading de Crypto/ CFD / SWFX e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para saber mais sobre o programa de Introdutor de Negócios e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.