CANADA: April's GDP Estimate Could Have Bearing On BOC June Cut Odds
May-29 20:40
Friday's GDP data (0830ET) is the last data between today and next Wednesday that could boost BOC ra...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
CARNEY SAYS HE SPOKE WITH TRUMP, AGREED TO MEET SOON
Apr-29 20:36
- CARNEY SAYS HE SPOKE WITH TRUMP, AGREED TO MEET SOON
- CARNEY SAYS THEY AGREED TO WORK TOGETHER AS SOVEREIGN NATIONS
LIBERALS WIN MINORITY CANADA GOVERNMENT, CBC NEWS PROJECTS
Apr-29 20:28
- LIBERALS WIN MINORITY CANADA GOVERNMENT, CBC NEWS PROJECTS
USDCAD TECHS: Bears Remain In The Driver’s Seat
Apr-29 20:00
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4120 50-day EMA
- RES 1: 1.3906/3972 High Apr 17 / 20-day EMA
- PRICE: 1.3849 @ 16:26 BST Apr 29
- SUP 1: 1.3781 Low Apr 21 and the bear trigger
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
The trend condition in USDCAD is unchanged, the outlook remains bearish. A fresh cycle low on Apr 21 highlights a resumption of the bear cycle and signals scope for a continuation near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Moving average studies are in a bear mode position, highlighting a dominant downtrend. First resistance to watch is 1.3972, the 20-day EMA.
