USDCAD continue strong upward trend - 17 December
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USD / CAD trend forecast December 17, 2024
The USD/CAD pair declines to around 1.4235, breaking a three-day winning streak during the Asian session on Tuesday. Investors now look ahead to Canada’s November Consumer Price Index (CPI) inflation data, set for release later in the day. Simultaneously, the US Dollar Index (DXY), which measures the USD’s value against its key trading partners, slips to approximately 106.75 as markets anticipate the US Federal Reserve’s (Fed) interest rate decision on Wednesday for fresh direction.
The market widely expects the Fed to implement a modest 25 basis point (bps) rate cut at its December meeting, reflecting persistent inflation and a cooling US labor market. Traders will closely analyze Fed Chair Jerome Powell’s press conference and the updated economic projections following the decision. Any hawkish signals or hints of a slower pace of rate cuts could strengthen the US Dollar against the Canadian Dollar (CAD).
Today there will be economic news USD AND CAD, according to experts the data is still in favor of USD and bad for CAD, helping the USDCAD pair to grow stronger and stronger.
/// BUY USDCAD : zone 142.500 - 142.300
SL: 141.900
TP: 50 - 120 - 200pips (144.300)
Safe and profitable trading
The USD/CAD pair declines to around 1.4235, breaking a three-day winning streak during the Asian session on Tuesday. Investors now look ahead to Canada’s November Consumer Price Index (CPI) inflation data, set for release later in the day. Simultaneously, the US Dollar Index (DXY), which measures the USD’s value against its key trading partners, slips to approximately 106.75 as markets anticipate the US Federal Reserve’s (Fed) interest rate decision on Wednesday for fresh direction.
The market widely expects the Fed to implement a modest 25 basis point (bps) rate cut at its December meeting, reflecting persistent inflation and a cooling US labor market. Traders will closely analyze Fed Chair Jerome Powell’s press conference and the updated economic projections following the decision. Any hawkish signals or hints of a slower pace of rate cuts could strengthen the US Dollar against the Canadian Dollar (CAD).
Today there will be economic news USD AND CAD, according to experts the data is still in favor of USD and bad for CAD, helping the USDCAD pair to grow stronger and stronger.
/// BUY USDCAD : zone 142.500 - 142.300
SL: 141.900
TP: 50 - 120 - 200pips (144.300)
Safe and profitable trading
Transaction en cours
+ 40 pips , signal BUY USDCAD 142.500 - 142.300 , great BUY Trade fermée: cible de profit atteinte
+ 70 pips , signal BUY USDCAD 142.500 - 142.300 , win signal BUY 
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