JoeChampion

USDCAD: Potential Upsides with Canada easing inflation

Long
FX:USDCAD   US-Dollar / Kanadischer Dollar
Hey Traders, in today’s trading session we are monitoring USDCAD for a buying opportunity around 1.35700, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.35700 support and resistance area.

The current scenario suggests a disinflationary trend in Canada when examining inflation and wage dynamics. While not the central expectation, it wouldn't be unexpected for the Bank of Canada to adopt a dovish stance during their upcoming meeting. This could involve hints at a potential rate cut in the future meeting or discussions surrounding pausing their Quantitative Tightening program.

Trade safe, Joe.

Join our telegram Channel for daily market updates t.me/JoeChampion
Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.