2245GMT | 0645HKT | 0845AEST | New Zealand 2Q Terms of Trade Index |
0820GMT | 0700HKT | 0900AEST | South Korea Aug CPI |
0820GMT | 0701HKT | 0901AEST | UK Aug BRC Sales Like-For-Like |
0820GMT | 0750HKT | 0950AEST | Japan Aug Monetary Base |
0820GMT | 0930HKT | 1130AEST | Australia 2Q Net Exports of GDP |
0820GMT | 0930HKT | 1130AEST | Australia 2Q BoP Current Account Balance |
0820GMT | 1135HKT | 1335AEST | Japan to Sell 10-Year Bonds |
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Trend conditions in USDCAD remain bullish and Thursday’s gains reinforce this condition. Recent gains resulted in a break of 1.3792, the Jun 11 high, and more recently, a print above key resistance at 1.3846, the Apr 16 high. The trend condition is overbought, however, the break of 1.3846 strengthens the bull theme and opens 1.3899, the Nov 1 ‘23 high and a key resistance. Firm support lies at 1.3718, the 50-day EMA.
Another Fed rate call change, this one by Nomura - who are still a little more conservative on the pace and magnitude cuts than some others in the wake of the July employment report. They now see: