USDCAD on Wednesday dropped -0.18% to 1.34402. What we know.
|Performance after Wednesday|
|Week to-date||-0.47%||-63 Pips|
Upcoming key events (London Time)
Thu 02:00 PM CAD Bank of Canada’s Governor Tiff Macklem speech
Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar
Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash
What happened lately
📆 ☢️ 🇨🇦 CAD Bank of Canada Policy Interest Rate unchanged at 4.5% compared to previous rate 4.5%. Bank of Canada
📆 🇺🇸 USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February. Bureau of Labor Statistics
What can we expect from USDCAD today?
USDCAD on Wednesday dropped -0.18% to 1.34402. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at S1 1.3413 with break below could see further selling pressure towards S2 at 1.33859. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.34893 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.34240 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
You might be interested in:
Minutes of the Federal Open Market Committee, March 21-22, 2023. Federal Reserve
Bank of Canada maintains policy rate, continues quantitative tightening. Bank of Canada
Monetary Policy Report – April 2023. Bank of Canada
CPI for all items rises 0.1% in March as shelter increases. Bureau of Labor Statistics Publications
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
#USDCAD Trending on Twitter
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.