The Canadian dollar got a shot in the arm from the hawkish shift from Wilkins, later followed up by Poloz. What’s next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that CAD has been the best performing currency overnight driven by a signal from the Bank of Canada that it is moving closer to raising interest rates. “USD/CAD has broken below key support from its 200-day moving at around the 1.3335-level which has reinforced bullish momentum for the Canadian dollar in the near-term,” BTMU adds. “The developments support our bullish outlook for the Canadian dollar which in part was built on the assumption that the BoC would begin to raise rates in the first half of next year. If expectations for policy divergence between the BoC and Fed become less acute, USD/CAD should move closer into line with levels justified by the price of crude oil which we estimate is currently between 1.2500 and 1.3000,” BTMU argues. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next Fed Preview: 5 Things to watch out for in a Yohay Elam 6 years The Canadian dollar got a shot in the arm from the hawkish shift from Wilkins, later followed up by Poloz. What's next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research notes that CAD has been the best performing currency overnight driven by a signal from the Bank of Canada that it is moving closer to raising interest rates. "USD/CAD has broken below key support from its 200-day moving at around the 1.3335-level which has reinforced bullish momentum for the Canadian dollar in the near-term," BTMU adds. "The developments support our bullish outlook for the Canadian dollar which… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
