đ USD/CAD continuation of the uptrend? đ InvestMate
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đ USD/CAD continuation of the uptrend? đ
đ” Last week in the financial markets began with a relapse into positive sentiment but by the end we were back to square one.
đ” The FED, which is fighting the highest inflation in 40 years, has a tough task.
đ” Given the key event that took place in the US economy - non-farm payrolls. From which it follows that more jobs were added than expected, we still recorded a decline in the unemployment rate.
đąïž Oil prices are also not helping to dampen inflation because, it is currently a good leading indicator of inflation. Oil last week rose as much as 17% this is a significant increase since the beginning of Russia's military aggression against Ukraine.
đąïž OPEC+ has announced production cuts in the coming months in a bid to bolster the price, which has been falling since May.
đ” All eyes are currently on next month's U.S. year-on-year inflation report, which will take place on October 13.
đ” The annual CPI is expected to fall to 8.1% from August's 8.3%, but the core rate is expected to accelerate to 6.5% from 6.3%.
đ Looking at Canada's economic data, we also see it currently stable. The Canadian economy added 21,100 jobs in September, ending a three-month losing streak, while the unemployment rate fell to 5.2% from 5.4%.
tradingeconomics.com/canada/employment-change
www150.statcan.gc.ca/n1/daily-quotidien/221007/cg-a003-png-eng.htm
đ To combat inflation, Canada's central bank has raised interest rates by 300 basis points since March to 3.25%.
đ On October 26 there will be another interest rate change which the market is currently pricing at +50 basis points.
đ With the market betting that we will see the interest rate at maximum levels of 4.25% in the coming months.
đ Meanwhile, it is also worth bearing in mind that Canada's trade surplus narrowed to C$1.5 billion ($1.1 billion) in August, as exports fell 2.9%.
www150.statcan.gc.ca/n1/daily-quotidien/221005/cg-a001-eng.htm
đ It seems to me that in the case of this pair, if CPI inflation in the United States does not surprise positively and the Fed continues to maintain its hawkish policy, we will again see a gradual strengthening of the dollar, with economic elements receding into the background.
đąïž Currently, all eyes are on oil, which is one of the country's key export commodities.
đ If you like the analysis. Leave a like and follow <3
đ” Last week in the financial markets began with a relapse into positive sentiment but by the end we were back to square one.
đ” The FED, which is fighting the highest inflation in 40 years, has a tough task.
đ” Given the key event that took place in the US economy - non-farm payrolls. From which it follows that more jobs were added than expected, we still recorded a decline in the unemployment rate.
đąïž Oil prices are also not helping to dampen inflation because, it is currently a good leading indicator of inflation. Oil last week rose as much as 17% this is a significant increase since the beginning of Russia's military aggression against Ukraine.
đąïž OPEC+ has announced production cuts in the coming months in a bid to bolster the price, which has been falling since May.
đ” All eyes are currently on next month's U.S. year-on-year inflation report, which will take place on October 13.
đ” The annual CPI is expected to fall to 8.1% from August's 8.3%, but the core rate is expected to accelerate to 6.5% from 6.3%.
đ Looking at Canada's economic data, we also see it currently stable. The Canadian economy added 21,100 jobs in September, ending a three-month losing streak, while the unemployment rate fell to 5.2% from 5.4%.
tradingeconomics.com/canada/employment-change
www150.statcan.gc.ca/n1/daily-quotidien/221007/cg-a003-png-eng.htm
đ To combat inflation, Canada's central bank has raised interest rates by 300 basis points since March to 3.25%.
đ On October 26 there will be another interest rate change which the market is currently pricing at +50 basis points.
đ With the market betting that we will see the interest rate at maximum levels of 4.25% in the coming months.
đ Meanwhile, it is also worth bearing in mind that Canada's trade surplus narrowed to C$1.5 billion ($1.1 billion) in August, as exports fell 2.9%.
www150.statcan.gc.ca/n1/daily-quotidien/221005/cg-a001-eng.htm
đ It seems to me that in the case of this pair, if CPI inflation in the United States does not surprise positively and the Fed continues to maintain its hawkish policy, we will again see a gradual strengthening of the dollar, with economic elements receding into the background.
đąïž Currently, all eyes are on oil, which is one of the country's key export commodities.
đ If you like the analysis. Leave a like and follow <3
Note
What do you think of the analysis? Write in the commentsNote
accumulation, wait for tomorrow's inflation data in the USANote
Beautiful breakout attemptNote
the accumulation continues, the fight goes on
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