USD/CAD trades steadily near 1.40 – BBH
Source Fxstreet
USD/CAD holds flat near 1.40 as traders eye potential catalysts from a US-Canada trade deal and next month’s pro-growth Canadian budget, BBH FX analysts report.
Canada retail sales unlikely to move markets
"USD/CAD is directionless around 1.4000 with technical support offered at 1.3961 (200-day moving average) and resistance at 1.4080 (October 14 high). Canada August retail sales print is unlikely to generate much financial market volatility (1:30pm London, 8:30am New York)."
"Statistics Canada advance estimate indicates retail sales increased 1.0% m/m vs. -0.8% in July. In our view, USD/CAD risks are skewed to the downside because of a possible US-Canada trade deal next week and a pro-growth Canadian budget on November 4."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US spot Bitcoin ETF buyers are essentially the very investors expected to provide a stable, long-term bid for the pioneer crypto. However, data shows that these players are now sitting on mounting unr
Gold prices rebounded Wednesday, climbing 0.9% to $4,995.60 an ounce as geopolitical tensions between the U.S. and Iran heightened demand for safe-haven assets, despite recent market volatility.
Bitcoin has entered a critical phase after its recent correction dragged the price toward the $70,000 level. Viewed through a macro lens, this move has exposed BTC to elevated downside risk. Several o
Global markets may be entering a new phase of volatility after Goldman Sachs warned that systematic funds could offload tens of billions of dollars in equities in the coming weeks.This wave of selling
Lyn Alden says the Federal Reserve is likely entering a gradual phase of money printing rather than aggressive stimulus.
Related Instrument
