USD/CAD At Risk of Downside Break, CPI Report Next
Por um escritor misterioso
Descrição
The US Dollar gained strength above the 1.3500 resistance against the Canadian Dollar. However, USD/CAD failed to continue higher above 1.4000.
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The downside surprise in US November CPI has prompted a risk-on rally overnight but major US indices came off sharply from their intra-day high as key technical resistance stood in the way.
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The downside surprise in US inflation data has sparked the single best day for Wall Street since April 2020, as the significant underperformance in the US CPI release drove a 'more dovish
A focus on inflation data; dollar reasserts medium-term downtrend but may need to backfill
the USDCAD appears to likely decline towards 1.3500 - MTrading
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