CAD price, oil news and analysis: The Canadian Dollar has so far failed to benefit from rising oil prices on the demand by the US that other countries halt their buying of Iranian crude. However, the news is likely to boost CAD near-term, sending USDCAD lower. Canadian Dollar to Benefit from Rising Crude Oil Prices Surprisingly, perhaps, the Canadian Dollar has so far shrugged off the US demand that all other nations stop buying Iranian crude oil or face sanctions. Canada is a major oil exporter so the CAD tends to rise when oil prices climb and fall when they dip. By contrast, USDCAD is firmer in Europe Tuesday as the Canadian currency weakens marginally USDCAD Price Chart, Five-Minute Timeframe (April 22-23, 2019) Chart by IG (You can click on it for a larger image...
Bitcoin Extends Its Positive aspects Bitcoin gained 0.96% on Saturday, partially reversing the week’s solely loss on Friday, to finish the day at $7,403.four, with Bitcoin up 16.64% for the present week. A begin of the day slide to an intraday low $7,221 noticed Bitcoin name on help on the 23.6% FIB Retracement Degree of $7,230 to keep away from heavier losses and a resumption of the prolonged bearish pattern that had been shaped at 5th Might’s swing hello $9,999. Bitcoin recovered by way of to a mid-morning $7,356.2 excessive that fell in need of the primary main resistance degree at $7,587.63, earlier than pulling again to check help at $7,300 by way of the late morning. A day rally noticed Bitcoin get away from the 23.6% FIB Retracement Degree as soon as extra, e
On the Macro For the Dollar, key stats embody current June current dwelling gross sales and new dwelling gross sales on Monday and Wednesday respectively, July private-sector PMI numbers on Tuesday, the weekly jobless claims, commerce knowledge and June sturdy items orders on Thursday and 1st estimate 2nd quarter GDP numbers and July shopper sentiment figures on Friday. Key drivers by way of the week will embody the PMI, sturdy items orders and a couple ofnd quarter GDP figures, all of which may proceed to assist at the very least yet one more fee hike this yr, worth in a second, while additionally easing near-term issues over the continued commerce warfare and impression on the united stateseconomy. Trump’s FED assaults might proceed as he makes an attempt to offset the consequences of a
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