USD/CAD: A push under 1.3720/35 targets a drop back to 1.3675 – Scotiabank
09.08.2024, 11:59

USD/CAD: A push under 1.3720/35 targets a drop back to 1.3675 – Scotiabank

The Canadian Dollar (CAD) is idling in a tight range, Scotiabank’s chief FX strategist Shaun Osborne notes.

Slips into a sideways range trade around 1.3725

“Canadian jobs data this morning are expected to show a rebound in hiring. The consensus expectation is for a 25k gain following the June drop of 1.4k. The 6m moving average for job gains sits at 32k while the 12m average is +39k so there may be some risk of a slightly higher print. But the unemployment rate is forecast to pick up a tenth to 6.5%, reflecting the expansion in the labour force, while hourly wage growth eases to 4.8% (from 5.6% in June).”

“Policymakers are concerned that rising unemployment will weigh on consumer activity and slow the economy in the coming months and are adjusting interest rates accordingly. That seems to be a conviction view that slightly better than expected data or elevated wage growth today is unlikely to shake. USDCAD is likely to remain well supported in the high 1.36s/low 1.37s for now.”

“Spot has slipped into a sideways range trade around noted retracement support at 1.3725 (61.8% of the 1.3598/1.3946 move up). Short-term momentum remains USD-bearish, keeping risks tilted to the downside but markets are showing little intent of pressuring the low 1.37s more intently today. Resistance is 1.3775/90. A concerted push under 1.3720/35 targets a drop back to 1.3675.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik