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13 March 2018

Forex Technical analysis

USDCAD Fundamental Drivers Analysis

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North of the border, the Bank of Canada’s Stephen Poloz will deliver a speech at 14:30 GMT. What impact does this event have on the USDCAD pair? Find out on the 13 March USDCAD Fundamental Drivers Analysis.

13 March, OctaFX – Shifting gears to North America, the US Department of Labor will release its February CPI report at 12:30 GMT. Annual CPI is forecast to strengthen to 2.2%, compared with 2.1% the previous month. So-called core inflation, which strips away volatile goods such as food and energy, is expected to come in at 1.8% year-over-year.

Last week, the BOC kept interest rates on hold amid growing trade risks involving the United States.

13 March USDCAD Fundamental Drivers Analysis

The US dollar rose against its northern counterpart on Monday, although gains were limited by ongoing geopolitical risks involving the Trump administration. The USD/CAD touched a session high of 1.2844 on Monday and has since backtracked slightly.

The pair is now trading at 1.2836, where it is coming up against a firm resistance. On the opposite side of the ledger, immediate support is likely found at 1.2800.

13 March USDCAD Fundamental Drivers Analysis

Disclaimer

This article about 13 March USDCAD Fundamental Drivers Analysis was provided by OctaFX. It 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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