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Usdcadshort

USDCAD Reacts to CPI & Debt Ceiling WoesUSDCAD Reacts to CPI & Debt Ceiling Woes Two big events affecting the USD/CAD pair include the CPI reading from Canada this week as well as the ongoing debt ceiling crisis in the US. In April, the monthly Canadian headline CPI surged by 0.7%, resulting in an annual rate of 4.4% compared to the previous 4.3%. This increase exceeded the consensus estimates by three-tenths of a percent in both instances. Consequently, the USD/CAD experienced a 0.4% decrease, reaching 1.3404, before rebounding to a high of 1.3535 USD/CAD has now also breached its 200-day simple moving average on the downside, closing below it to reinforce the bearish signal. Strengthening this assertion is that the Bank of Canada had recently put a halt to its tightening campaign, having raised interest rates by 425 basis points since March 2022. However, they indicated that this pause was dependent on the inflation outlook aligning with the forecasted trajectory. It is unlikely that this week's CPI data meets this requirement. Offsetting the positive news for the Canadian dollar is the prevailing optimism in the United States regarding the government's ability to avoid defaulting on its debt. Following emergency discussions at the White House, President Joe Biden and Republican leaders cautiously expressed hope for a potential agreement to raise the US debt ceiling. The agreement must be reached and approved by both houses of Congress before the federal government exhausts its funds to cover expenses, which could occur as soon as June 1 (only two weeks away). Despite House of Representatives Speaker Kevin McCarthy stating that the two parties remain considerably apart, he believes that a deal could be achieved by the end of the current week.
by BlackBull_Markets
USDCADYOU SHOULD TAKE THE TWO SIDE PROFIT USD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair.
Long
by IFIYE_Academy
BEARISH IDEA ON USDCAD H1 My USDCAD H1 Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analyzing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
Short
by CELGIB_TRADING
USDCAD BEARISH IDEAH&S has been formed already and in our previous analysis we made this clear, again the neckline of the H&S was broken which we previously traded it on retest. After this retest we expect the price it's low now however there were a raising trendline acting as support below after retest, if bears have the energy to push down then we'll reach the target of next support level of 2.30089. The FED's pivot is underway and the interest rate hikes is expected to be halt my the FED, this will cause more weakness to greenback.
Short
by CELGIB_TRADING