Note

USD/CAD Outlook (16 June 2021)

Verified Person
· View 88

#OPINIONLEADER#

USD/CAD Outlook (16 June 2021)

ByJin Dao Tai

 JUN 16, 2021

USD/CAD Outlook (16 June 2021)

Overall, USD/CAD is trending upwards. Recently, USD/CAD trended up and bounced down from the key level of 1.22.

The Canadian Housing Starts data (Actual: 276KForecast: 271KPrevious: 267K revised from 269K) released yesterday indicated an increase in the number of residential buildings that began construction in May.

The Canadian CPI m/m data (Forecast: 0.4%Previous: 0.5%) will be released later at 2030 (GMT+8).

Bank of Canada Governor Macklem will be speaking tomorrow at 0645 (GMT+8). During this time, there may be volatility in CAD.

USD/CAD’s next support zone is at 1.21000 and the next resistance zone is at 1.22400.

Look for short-term buying opportunities of USD/CAD up until the U.S. FOMC meeting tomorrow at 0200 (GMT+8).

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

If you like, reward to support.
avatar

Hot

No older comments, be the first to grab the sofa.

login