The Canadian economy unexpectedly contracted by 0.1% in the month of September , concluding a very weak third quarter. USD/CAD rises on this news and is at a monthly high. Early expectations stood on a growth rate of 0.1% in September, following a growth rate of 0.3% in August and a contraction of 0.1% in July. All in all, the Canadian economy stalled in the third quarter, even though the US economy grew at that time. US weakness in the second quarter turned into Canadian weakness in the third quarter. Recent rises in oil prices should help Canada have a better fourth quarter. USD/CAD is now at 1.0280, after breaking the resistance line of 1.0265 that was the upper border of a recent 1.0070 to 1.0265 range. The disappointing release sent it 50 pips higher. Above this level, the next resistance line is at 1.0380, followed by 1.05. Below 1.0070, the next support line is parity. See the Canadian dollar forecast for more technical levels and analysis. On Friday, Canadian job figures will be released and they will rock USD/CAD as well. They are published just before the US Non-Farm Payrolls, providing lots of action for all currencies. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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 Forex News Today: Daily Trading News share Read Next Wikileaks to Expose US Bank Failure? Yohay Elam 12 years The Canadian economy unexpectedly contracted by 0.1% in the month of September , concluding a very weak third quarter. USD/CAD rises on this news and is at a monthly high. Early expectations stood on a growth rate of 0.1% in September, following a growth rate of 0.3% in August and a contraction of 0.1% in July. All in all, the Canadian economy stalled in the third quarter, even though the US economy grew at that time. US weakness in the second quarter turned into Canadian weakness in the third quarter. Recent rises in oil prices should help Canada have a… 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.
