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USD/CAD Fundamental Analysis week of May 7, 2018

The pair continued to trade within a tight range and consolidate for another week. The USDCAD pair didn't have much to benefit on the summit of the course of last week and it marked the second week of ranging and consolidation that we have seen in this pair. The pair had inconsistent the length of through the 1.30 region which traditional the bears as being in control of the pair and encourage on that times, we have been seeing the pair knocked out pressure.

USDCAD In Tight Range

The dollar continued to increase across the board and even though the pair was impacted by the strength in the dollar, it has to be said that the impact was beautiful much limited for most of last week. The CAD did not make a deed of too much strength as the urge going about for from the oil prices was missing but even later, the pair could not make any major moves during the last week and it closed the week just above the 1.28 region. The without help major news of note last week was the employment description from the US in the form of NFP data. This data came in weaker than period-privileged though the data from last month was revised remote. This was a scenario which was exactly the similar that we had seen last month as swiftly and the appreciation of the markets to this was beautiful much muted related to last period as skillfully. It is doable that this illness in the data prevented the dollar from making a large concern sophisticated and pushing the pair towards the 1.30 region but this would attach coarsely speculation and it is likely that the coming weeks would counsel by us the truthful issue in this pair.

In the coming week, we have the PPI and the CPI data from the US even if we have the employment version from Canada. All of these are likely to have a large impact on the pair in the rushed term. We put happening to take into consideration that the dollar would continue to be hermetically sealed as long as the incoming data does not miss the mark by much. The traders continue to take that there would be at least 2 more rate hikes from the Fed and as long as the economic data supports that view, we should be seeing the dollar mammal buoyed. The CAD could as well as make a get your hands on of in strength based on description to speaking the employment numbers and that is why we have the same opinion an appreciative tribute that this pair, surrounded by all, is the one that is likely to range and consolidate for much of the rushed and medium term.
 
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