6 session highs have been made therefore 1-4 days before a peak in the market is reached, then some consolidation is expected and retracement, but then another 7-10 session highs expected. GDP figures for US and Canada due on Friday, expect a widening in the growth differential between the two countries, hence an appreciation in USD-CAD.
Oil prices stabilizing but I think they will go lower. This will be bearish for the CAD. Also, carry trades will maintain the bullish momentum as traders sell CAD against currencies with higher expected interest rates, i.e. USD.
1.3000 medium-term target
Oil prices stabilizing but I think they will go lower. This will be bearish for the CAD. Also, carry trades will maintain the bullish momentum as traders sell CAD against currencies with higher expected interest rates, i.e. USD.
1.3000 medium-term target