The Canadian Dollar was unable to rise despite a hawkish hike. What does it mean for USD/CAD? Here is their view, courtesy of eFXdata: TD Research discusses USD/CAD outlook and maintains a buy-on-dips strategy near 1.3050. “This week brings plenty of data for the market to nibble – namely, CPI and retail sales. We look for headline CPI to inch higher to 2.3% y/y, which remains consistent with the negative real rate story. Retail sales should bounce back from a weather-induced slowdown in April, though the market is mostly expecting these outcomes,” TD notes. “We look to buy into any USDCAD dips, looking to fade extremes in the 1.30 to 1.35 range. External drivers are also critical so US data, earnings, Powell and the broad USD matter too. USDCAD sits near HFFV and positioning seems to be leaning short so rather than chase the move higher we will look to re-establish fresh longs as we approach the bottom-end of the range near 1.3050,” TD advises. 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 RBA minutes: Significant additional colour around the current thinking – Westpac FX Street 5 years The Canadian Dollar was unable to rise despite a hawkish hike. What does it mean for USD/CAD? Here is their view, courtesy of eFXdata: TD Research discusses USD/CAD outlook and maintains a buy-on-dips strategy near 1.3050. "This week brings plenty of data for the market to nibble - namely, CPI and retail sales. We look for headline CPI to inch higher to 2.3% y/y, which remains consistent with the negative real rate story. Retail sales should bounce back from a weather-induced slowdown in April, though the market is mostly expecting these outcomes," TD notes. "We look to buy into any… 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.
