Tag - cad - canadian dollar

The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.

Recently, the Bank of Canada hiked the interest rates by 50 basis points. It is now 1.5%, and it’s only the beginning.

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This week we will see two CPIs, five PMIs, and a dozen statements from banks governors from all over the world. Why do you need to follow these releases? Because it is a perfect opportunity for markets to gain volatility and for you to earn on this volatility.

Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.

On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.

Crude Oil inventories report will help all energies to gain volatility and choose a direction | Gold is falling, but there is possible long entry | October 27

This week will bring us many interesting events for traders: inflation reports from the UK, Canada, and also PMI reports from the EU, UK, and the US. It will affect almost the entire Forex market. Watch the video to get fresh trade ideas for the week ahead!

Investors are worried about high inflation. Brent oil keeps looking at $85 a barrel, natural gas corrected down, EUR/USD remains in a downtrend, and USD/JPY paused after the rapid growth on Monday.

USD/CAD is at its lowest level since July. What was the reason?

We have outlooked several promising Forex pairs and the result can surprise you!

Find out what happened to BTC and Gold!