CAD

Bank of Canada Governor Macklem speech on Monday 5 February 2024, & news conference after

• Speaking on monetary policy

Newsquawk Week Ahead: RBA, China inflation, US ISM services PMI, annual US CPI revisions

• Next week highlights include the rate decision from the RBA, US ISM Services PMI data as well as inflation from China and we also see the annual US CPI revisions.

USDCAD surges after the stronger US jobs reports. The USDCAD tests key moving averages.

• The 200 hour MA and the 100 bar MA on the 4-hour chart being tested. A break opens the upside.

ICYMI - BoC Gov Macklem warns CAD budget fiscal spend could slow reaching inflation target

• Mackelm said he sees cases where the Bank of Canada could hike rates again

USDCAD rotates lower and trades at new lows for the day. Key support area being tested.

• The swing area between 1.3398 at 1.3414 needs to get below and stay below

Canada S&P Global manfuacturing PMI 48.3 vs 45.4 prior

• Canadian manufacturing data from S&P Global

Canadian GDP surprises to the upside but June still the time for a BOC cut - CIBC

• CIBC on today's GDP print

Canada November GDP +0.2% vs +0.1% expected

• November Canadian gross domestic product and the advance December reading

USDCAD bounces off support but found willing sellers near MA level as well. Battle is on.

• The 100 bar MA on the 4 hour chart stalls the rally in trading today. A swing area on the downside provides support.

Canadian home builder sentiment falls to survey low

• Worst reading in the three-year history of the survey

USDCAD Technical Analysis - Key levels in play

• The USDCAD pair breaks the range. What’s next?

USDCAD sets it's support and resistance targets . Trades between two levels

• The 200 day MA is resistance above at 1.3482. A swing level at 1.3414 is support below.

USDCAD Technical Analysis - Playing the range

• The USDCAD pair continues to march higher amid strong US data. What’s next?

ICYMI: U.K. suspends trade negotiations with Canada

USDCAD corrects lower today but does find support buyers at the 200 day MA. What next?

• The 200-day MA comes in at 1.3483. Watching 1.3517 as next target followed by the high from last week at 1.3541.