EXNESS - Analytics

    EXNESS

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    Real

    Canada's GDP supports the Loonie

    Sell on a level breakthrough of 1.3114 with 1.3060 target. Stop loss = 1.3164.

    Reason for the trading strategy

    In June, Canada's GDP increased by 0.5% (m/m), with a forecast of 0.2% (m/m). The growth in aggregate demand is supporting the Loonie, despite the adjustment in the price of WTI crude oil from 48 to 44.2 dollars per barrel in the last day. Today, it is worth paying attention to the publication of the weekly statistics on oil reserves in the United States.

     

    USDCAD, H4

    USDCAD


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