COVID-19 economic impact has started to rise globally. Reduction in social interaction & increase in quarantine are indicating a global economic recession.
USDCAD Bears may continue the Run remaining Below 1.3300 for further bearish momentum with target toward 1.3200. The price may push further down.
A big start to the day with key fundamental releases from Australia. Unemployment rate in Australia rises to 13 year high, as figures show a disappointing release of 6.4%
As the Australian Central Bank Cuts Rate, they hope for further decline of the Aussie against the dollar, particularly considering the recent year long fall in commodity prices.
As the AUD rallies, this may be a catalyst for a long awaited retracement as the currency has consistently lost ground against the USD for many weeks now...
The rate decision from BOE votes are expected to hold at 1-0-8 with Ian McCafferty remaining the lone dissenter. The committee have made it quite clear ....