Global Broker governance & inquiry App
Broker Search
English
Download

Singapore

2020-04-10 14:26

Market analysisUSD/CAD Outlook (10 April 2020)
Related product:
Others,Others,Others,Others,Others,Others
Market analysis:
Overall, USD/CAD is ranging across. Recently, USD/CAD moved lower into the support level of 1.39800. The OPEC meetings yesterday ended inconclusively. Although both Saudi Arabia and Russia agreed to a 10 million barrels-per-day (bpd) cut, Mexico refused a proposed cut of 400,000bpd, stating that they are only ready to cut production by 100,000bpd and threatened to withdraw. Moreover, OPEC+ said that they will not cut oil production without Mexico. OPEC meetings will resume today. The Canadian employment data released yesterday were worse than forecasted. - Employment Change (Actual: -1010.7K, Forecast: -427.0K, Previous: 30.3K) - Unemployment Rate (Actual: 7.8%, Forecast: 7.4%, Previous: 5.6%) The Canadian dollar was not negatively affected by the poor employment data upon release due to the initial optimism arising from the oil price war between Saudi Arabia and Russia. As a result, USD/CAD weakened. Currently, USD/CAD is testing the support level of 1.39800 and the next resistance level is at 1.42250. Canadian banks will be closed on Monday in observance of Victoria Day. Lower trading volume and volatility is expected during the Canadian trading session.
Like 0
I want to comment, too

Submit

0Comments

There is no comment yet. Make the first one.

Jin_Forex
Trader
Hot content

Industry

Event-A comment a day,Keep rewards worthy up to$27

Industry

Nigeria Event Giveaway-Win₦5000 Mobilephone Credit

Industry

Nigeria Event Giveaway-Win ₦2500 MobilePhoneCredit

Industry

South Africa Event-Come&Win 240ZAR Phone Credit

Industry

Nigeria Event-Discuss Forex&Win2500NGN PhoneCredit

Industry

[Nigeria Event]Discuss&win 2500 Naira Phone Credit

Forum category

Platform

Exhibition

Agent

Recruitment

EA

Industry

Market

Index

USD/CAD Outlook (10 April 2020)
Singapore | 2020-04-10 14:26
Overall, USD/CAD is ranging across. Recently, USD/CAD moved lower into the support level of 1.39800. The OPEC meetings yesterday ended inconclusively. Although both Saudi Arabia and Russia agreed to a 10 million barrels-per-day (bpd) cut, Mexico refused a proposed cut of 400,000bpd, stating that they are only ready to cut production by 100,000bpd and threatened to withdraw. Moreover, OPEC+ said that they will not cut oil production without Mexico. OPEC meetings will resume today. The Canadian employment data released yesterday were worse than forecasted. - Employment Change (Actual: -1010.7K, Forecast: -427.0K, Previous: 30.3K) - Unemployment Rate (Actual: 7.8%, Forecast: 7.4%, Previous: 5.6%) The Canadian dollar was not negatively affected by the poor employment data upon release due to the initial optimism arising from the oil price war between Saudi Arabia and Russia. As a result, USD/CAD weakened. Currently, USD/CAD is testing the support level of 1.39800 and the next resistance level is at 1.42250. Canadian banks will be closed on Monday in observance of Victoria Day. Lower trading volume and volatility is expected during the Canadian trading session.

Others

Others

Others

Others

Others

Others

Like 0
I want to comment, too

Submit

0Comments

There is no comment yet. Make the first one.

Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com