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Abstract:May 27th from WikiFX news. Overnight USD/CAD rate dropped 228 pips to 1.3773, a new low since March 16th . This has been the largest intraday decline since March.
May 27th from WikiFX news. Overnight USD/CAD rate dropped 228 pips to 1.3773, a new low since March 16th . This has been the largest intraday decline since March.
Bank of Canada‘s outgoing Governor Stephen Poloz maintains a dovish forward guidance before leaving the post, saying that the central bank is “doing the best to ensure a solid foundation for economic recovery”. Poloz is leaving the post in June, and he had previously warned that massive monetary stimulus will be needed for Canada’s economy.
As the Bank of Canada remains open to introducing more unconventional measures, the Canadian dollar may face even more unfavorable risks.
Canada will release on Friday the GDP for Q1, 2020, which is expected to see the greatest decline since the data was first recorded and published in 1961.
USD/CAD daily pivot points: 1.3814---1.3870
S1 1.3700 R1 1.3928
S2 1.3614 R2 1.4070
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
WikiFX News (4 June)- Trading variety recommended today is: EUR/USD (up: 7 days, overnight change: 0.56%, fluctuation: 0.81%)
May 31st from WikiFX news. After the heavy slump in February, the US stock market has regained nearly 38% to date since March 22nd . WikiFX reminds investors that more attention should be given to the short interest in US stock market.
May 30th from WikiFX news. The forex information inquiry service provider WikiFX recently updated the latest commitment of traders report in forex futures up to May 19th, 2020.
May 28th, from WikiFX news. Aussie’s performance beat most of G10 currencies in May. Technically, AUD/USD breached April’s range and is heading towards March high with a positive outlook.