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 >' '<
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.