Harga minyak sudah kehilangan momentum kenaikannya, dimana minyak mentah Brent dan WTI anjlok di minggu ini…
USD/CAD: technical levels and fundamentals
Diperbarui • 2019-11-11
General overview
In the Tokyo morning, Loonie reverted its recent bullish bias and sent prices towards the sturdy support at 1.3350. In the course of the European session, the downward pressure eased and helped USD to rise higher.
Fundamentals
Yesterday we heard BoC’s Governor S. Poloz speaking at Durham College. He sounded a bit dovish and cautious. Mr. Poloz noted in his speech that Canada’ economic growth prospects are still unclear to the Bank of England as Trump administration’s intentions with regard trade deal with Canada are still unknown. Although President Trump is determined to target Mexico, there is still great uncertainty over the NAFTA deal and its consequences for Canada. Also, we received some comments on the housing prices from the BoC’s Governor. It was said that recent upsurge in housing prices is not driven by fundamental demand.
USD moved higher overnight as investors have become more optimistic about the Trump’s ability to enact pro-growth policies. Fed’s speakers (George, Kaplan, and Fischer), Chair Yellen backed expectation for more US interest rate hikes and provided an additional boost for the currency overnight.
Tokyo’s revival of oil prices was positive for the loonie. Brent oil futures surged to $51.76. WTI futures were also higher in the Asian session. The optimism that an OPEC-led production deal cut will be extended took its toll. USD/CAD dropped to the important level at 1.3350 (50-H4 MA). Today’s focus will be on the US crude oil inventories data. If the release posts another buildup in US crude stockpiles, the loonie’s reaction will be negative.
Towards the end of the week, we will be waiting for US and Canadian economic growth figures coming on Thursday and Friday respectively. A strong Canadian GDP release will certainly be favorable for CAD’s valuation.
Technical levels
USD/CAD will probably continue its roundabout movement within the Ichimoku cloud on the H4 timeframe. A break of the upper border (1.3380) will open the way towards the next immediate resistance at 1.3415. On the downside, the main supports can be found at 1.3286 (100-day MA), 1.3350 and 1.3280 (the upper border of Ichimoku cloud on the daily timeframe).
Menyerupai
Minyak mentah acuan melonjak naik hampir 1%, melanjutkan kenaikan 6% pada sesi sebelumnya, pasca kelompok produsen minyak OPEC+ mengejutkan pasar dengan rencana pemangkasan produksi harian…
USD/CAD berhenti di dekat level terendah dua bulan, naik 0,12% intraday di sekitar 1,2500 selama pagi ini di Eropa…
Berita terbaru
Yen Jepang gagal memikat para investor pada perdagangan Selasa (02/04/2024) meski ada peluang atas kemungkinan intervensi dan..Sentimen penghindaran risiko masih berpotensi memberikan kekuatan pada safe-haven
XAUUSD naik ke rekor tertinggi baru pada perdagangan Senin (01/04/2024), di tengah meningkatnya spekulasi penurunan suku bunga..melanjutkan kenaikan kuat minggu lalu hingga membentuk level puncak baru sepanjang masa
Pasar saham Asia sebagian masih libur dan sebagian lagi menguat pada perdagangan Senin (01/04/2024), karena optimisme data pabrikan Tiongkok mendukung..potensi intervensi otoritas Jepang terhadap yen Jepang diperkirakan berada di zona 152 – 155 yen.