Trading Opportunities

Challenges Ahead for USD/CAD Bulls

Last night, the Bank of Canada decided to raise its interest rate by 25 basis points, bringing it to 4.75%. This move came after a pause in the tightening campaign during the two previous meetings. As a result, borrowing costs...

USD/CAD: Consolidation Calm Before the Storm?

The USD/CAD has been consolidating since late last Friday. Key levels include 1.346 and 1.345 for the upper bound and 1.341 and 1.340 for the lower bound. The market appears to be in the middle of the storm that might...

NFP report: How Will it Shape the Gold Trend?

Gold prices experienced a rise on Tuesday and Thursday (sideways on Wednesday), driven by traders' expectations of another interest rate hike by the US Federal Reserve. But is the medium-term downtrend really over? One fundamental indicator that can help answer...

5 Key Factors Shaping US Dollar Trading This Week

The US dollar is in the midst of a week filled with pivotal events. Together, these fundamental drivers hold the key to understanding the potential shifts in the US dollar's performance throughout the week: US President Joe Biden announced that...

Market Over-Reacts? NZD tanks more than 2%

The New Zealand dollar experienced a significant drop of over 2% on Wednesday, reaching its lowest level in more than three months at $0.6039. This decline followed the Reserve Bank of New Zealand's (RBNZ) expected decision to raise cash rates...

GBP/USD Alert: Unrealistic Forecast for UK Inflation? 

Tomorrow, the latest inflation rate for the UK will be released, which will be significant for traders dealing with GBP/USD due to the perhaps unrealistic forecast for a 2-percentage point drop. It is expected that the inflation rate for April...
USD/CAD

USD/CAD Reacts to CPI, Debt Ceiling Woes 

In April, the monthly Canadian headline CPI surged by 0.7%, resulting in an annual rate of 4.4% compared to the previous 4.3%. This increase exceeded the consensus estimates by three-tenths of a percent in both instances. Consequently, the USD/CAD experienced...

Why the Mexican Peso Surged Against the USD?

The Mexican peso gained strength to 17.544, its highest value since July 2017, as the difference between US and Mexican monetary policies became more pronounced. The RSI on the USDMXN suggests it is in an extreme oversold condition, so a...

Pound to break 1.27 amid BOE’s Thursday rate hike?

The pound rose to a more than one-year peak against the dollar on Monday, trading as high as $1.2668, its highest level since April 2022, before slipping slightly below that to $1.2616. The pound is in focus this week ahead...
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