The USD/CAD pair gained nearly 100 pips in a matter of minutes after the data published by Statistics Canada revealed that the Canadian economy contracted 0.1% on a monthly basis in December.
The report showed that the real GDP's annual growth rate in the fourth quarter slumped to 0.4% from 2% in the third quarter and missed the market expectation of 1.2%.
And there was big drop of West Texas oil Prices.
Buyers can sit comfortably if the US Dollar index strengthens further and oil prices drop to the $50 area .
From my point of view trading this pair will be supported by fundamentals and the pair is set to retest the 1.34 range within the month of March >' '<
The report showed that the real GDP's annual growth rate in the fourth quarter slumped to 0.4% from 2% in the third quarter and missed the market expectation of 1.2%.
And there was big drop of West Texas oil Prices.
Buyers can sit comfortably if the US Dollar index strengthens further and oil prices drop to the $50 area .
From my point of view trading this pair will be supported by fundamentals and the pair is set to retest the 1.34 range within the month of March >' '<
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.