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12 October 2017

Forex Technical analysis

USDCAD Fundamental Drivers Analysis


Portugal’s consumer price index (CPI) will make headlines at 10:00 GMT before attention shifts to North America. How will USDCAD move today? Let's find out with this 12 October USDCAD Fundamental Drivers Analysis from OctaFX.

12 October, OctaFX - The US Labor Department will report on factory-gate prices at 08:30 GMT. The producer price index (PPI) is expected to rise 2.5% annually in September, up from 2.4% the previous month. Core PPI likely rose 2% year-over-year, according to forecasts.

Bank of England (BOE) Monetary Policy Committee member Andrew Haldane will kick off the central bank commentary at 13:00 GMT. Haldane has emerged as one of the BOE’s more hawkish members.

12 October USDCAD Fundamental Drivers

The USD/CAD followed the greenback lower on Wednesday, as prices fell back below 1.2500. The Canadian dollar is also being supported by booming oil prices, of which Canada is a prime exporter. The USD/CAD edged even lower overnight, where it was trading in the 1.2440 range.

A sharp pullback toward the 1.2400 handle could expose the pair to an even bigger correction following a month-long winning streak.

12 October USDCAD Fundamental Drivers


This article about 12 October USDCAD fundamental drivers analysis should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.


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