USD/CAD in bullish: oil price falls, BoC in more dovish
1 December 2015, 12:30
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Oil price falls from 54.00 to a little above 43.50 since the beginning of October this year, and it has a negative impact on economy and the currency. Further easing not priced and the CAD may weaken if Bank of Canada will take more dovish tone.
There are the following news events which will be affected on USD/CAD price movement for the week:- 2015-12-01 13:30 GMT | [CAD - GDP]
- 2015-12-02 15:00 GMT | [CAD - Overnight Rate]
- 2015-12-02 17:25 GMT | [USD - Fed Chair Yellen Speech]
- 2015-12-03 15:00 GMT | [USD - Fed Chair Yellen Speech]
- 2015-12-04 13:30 GMT | [CAD - Trade Balance]
- 2015-12-04 13:30 GMT | [CAD - Employment Change]
- 2015-12-04 13:30 GMT | [USD - Non-Farm Employment Change]
The price is located to be near and below key resistance level at 1.3456, and if the price breaks this level from below to above so we may see 1.3600 as the real bullish psy target in this case.
