USD/CAD H1

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S1 1.32178                                R1  1.33958                           Prev Close: 1.3362

Current rate –    1.3359 Down 0.0002                                      Open: 1.3363

 

 

 

In an ideal economy, which doesn’t exist anywhere, weakness in one sector would be followed or balanced by strength in another sector. For the Canadian economy, the hope would be that weakness in the energy market would be offset by the strength of Canadian households to spur demand thanks in part to the money saved by lower energy prices. However, that’s not happening, and it’s causing frustration at the Bank of Canada. It turns out that the oil-dependent Canadian economy isn’t having the resilience that the Bank of Canada would like to see, and that was shown via Retail sales this morning Dollar has continued to see weakness as the price of Oil sitting near 37.63€ has put the country in a tough fiscal position

 

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