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Sergey Golubev, 2017.07.11 15:05
USD/CAD Intra-Day Fundamentals: CMHC Housing Starts and range price movement
2017-07-11 13:15 GMT | [CAD - Housing Starts]
if actual > forecast (or previous one) = good for currency (for CAD in our case)
[CAD - Housing Starts] = Annualized number of new residential buildings that began construction during the previous month.
From official report :
USD/CAD M5: range price movement by Canada Mortgage and Housing Corporation news event
Sergey Golubev, 2017.07.12 16:12
USD/CAD Intra-Day Fundamentals: Bank of Canada Overnight Rate and range price movement
2017-07-12 15:00 GMT | [CAD - Overnight Rate]
[CAD - Overnight Rate] = Interest rate at which major financial institutions borrow and lend overnight funds between themselves.
USD/CAD M5: range price movement by BOC Overnight Rate news event
Related to Bank of Canada Overnight Rate news event today ...If we look on the price at H4 price so we may see the price to be bounced from 1.2945 resistance level to below.This 1.2945 level is the bullish reversal level located near 'reversal' Senkou Span line of Ichimoku indicator. It means the following: if the price breaks 1.2045 resistance to above so the bullish reversal will be started.
So, the price was bounced from this level to below, and it makes intra-day bullish reversal to be very unlikely in the near future for example.
What does it mean for the daily price?
The bearish breakdown is going to be continuing with 1.2646 nearest target to re-enter.
What Bank of Canada Overnight Rate news event means in global way for long-term movement?
It means the following: The price is breaking 1.2945 support level to below on weekly open bar. If the weekly price is closed below this level so the long-term correction will be started and may be continuing up the end of this year.
Sergey Golubev, 2017.07.16 10:19
Weekly Fundamental Forecast for USD/CAD (based on the article)
USD/CAD - "With the Canadian economy now projected to grow an annualized 2.8% in 2017, the BoC may layout a more detailed exit strategy the as ‘output gap is now projected to close around the end of 2017, earlier than the Bank anticipated in its April Monetary Policy Report (MPR).’ The material shift in central bank rhetoric suggests Governor Poloz and Co. may even consider a series of rate-hikes especially as ‘the factors behind soft inflation appear to be mostly temporary.’"
Sergey Golubev, 2017.07.21 13:32
Trading the News: Canada Consumer Price Index (CPI) (based on dailyfx article)
Signs of softer-than-expected inflation may push the BoC to the sidelines as ‘very strong growth of the first quarter is expected to moderate over the balance of the year,’ and Governor Stephen Poloz and Co. may endorse a wait-and-see approach at the next meeting on September 6 as ‘geopolitical uncertainty still clouds the global outlook.’Nevertheless, stickiness in the core rate of inflation accompanied by a further expansion in household consumption may encourage the BoC to adopt a more hawkish tone as ‘the output gap is now projected to close around the end of 2017, earlier than the Bank anticipated in its April Monetary Policy Report (MPR).’ In turn, BoC officials may continue to implement higher borrowing-costs over the coming months as the central bank expect to achieve the 2% target for price growth by the middle of 2018.
Why Is This Event Important:
Canada’s Consumer Price Index (CPI) slipped to an annualized 1.3% in May from 1.6% the month prior, while the core rate of inflation held steady at 1.3% per annum amid forecasts for a 1.4% print. A deeper look at the report showed the decline was largely led by lower energy prices, with transportation costs narrowing 0.7% in May, while prices for clothing and footwear bounced back 0.5% after contracting 1.1% in April. The Canadian dollar lost ground following the softer-than-expected inflation report, with USD/CAD turning around ahead of the 1.3200 handle to end the day at 1.3268.
How To Trade This Event RiskBearish CAD Trade: Canada Inflation Report Continues to Disappoint
Bullish CAD Trade: Headline & Core CPI Exceed Market Expectations
USD/CAD M5: range price movement by Canada Consumer Price Index news event -
Sergey Golubev, 2017.07.22 12:07
USD/CAD - "The headline inflation rate fell to 1.0% year/year in June from 1.3% in May – dropping further away from the BoC’s 2% target – but two of Canada’s three measures of core inflation were higher and May retail sales jumped by 0.6% month/month rather than the 0.3% expected by analysts. This helped reinforce the Canadian currency’s bullish momentum and inevitably brought the 1.25 level into focus for USDCAD, even though the pair is now technically oversold."
Sergey Golubev, 2017.07.28 08:32
USD/CAD - daily bearish; 1.2413 is the key (based on the article)
Daily price is located very far from Ichimoku cloud in the bearish area of the chart: price is breaking descending triangle pattern to below together with 1.2413 support level for the bearish trend to be continuing.
Sergey Golubev, 2017.08.05 11:13
Weekly USD/CAD Outlook: 2017, August 06 - August 13 (based on the article)Dollar/CAD moved up, correction previous losses as oil prices cooled down. The upcoming week features housing figures from Canada.