Keep your eyes on the CAD this week.
This week the Canadian Dollar will be driven by important Data and further developments in the US/China trade dispute.
The bias for the CAD has turned more bearish in the short-term following the BoC’s previous monetary policy meeting where the bank were more dovish than market’s were expecting.
They explained that the ongoing trade uncertainty has considerable downside risk to the Canadian economy and the bank has started to consider the possibility of rate cuts if the outlook worsens.
Following this the CAD has remained pressured for the last two weeks.
This week we have two important data points which could provide us with an opportunity to trade the CAD:
1) CPI (Wednesday)
2) Retail Sales (Friday)
However, apart from these data points it will be very important to gauge the market’s overall risk tone before these events are released.
This week ahead video will help you prepare for these upcoming events and share possible ways to trade CAD.
01:00 – The baseline for the CAD
02:41 – The baseline for the upcoming risk events
04:48 – Possible sentiment shifts that can create trading opportunities
08:00 – Which currencies to pair against the CA