With the Q1 and March GDP data to capture the start of the lockdown period, there is little informational value for CAD to reflect concern. The 1.37 handle should be sticky while 1.3850 offers resistance for the USD/CAD, according to economists at TD Securities. You can’t miss the Canadian GDP Preview by Yohay Elam Key quotes “Consistent with Statistics Canada’s nowcast, we expect a decline of roughly 10% annualized. The drop should be driven largely by consumer spending (-13.6%), underpinned by a roughly 25% anticipated drop in services spending.” The CAD, like much of its dollar bloc peers, has latched itself onto two factors: broad USD variation and equities. Indeed, USDCAD’s move below 1.40 has largely been a reflection of the USD leg rather than CAD bullishness.” “We are looking to the 1.3700/30 area as providing some interim support in the coming weeks. Resistance is located at 1.3850.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY Price Analysis: Aussie trading in 12-week highs vs. Japanese yen FX Street 3 years With the Q1 and March GDP data to capture the start of the lockdown period, there is little informational value for CAD to reflect concern. The 1.37 handle should be sticky while 1.3850 offers resistance for the USD/CAD, according to economists at TD Securities. You can't miss the Canadian GDP Preview by Yohay Elam Key quotes “Consistent with Statistics Canada's nowcast, we expect a decline of roughly 10% annualized. The drop should be driven largely by consumer spending (-13.6%), underpinned by a roughly 25% anticipated drop in services spending.” The CAD, like much of its dollar bloc peers, has latched… 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.
