USDCAD: 50/100-DMA confluence guards rebound near 1.2685-90
tells the trader how many Canadian dollars are needed to purchase one U.S. dollar . The '' is a gold-coloured coin that was introduced in 1987 and is produced by the Royal Canadian Mint at its facility in Winnipeg.
The most prevalent versions of the coin show a common loon, a bird found throughout Canada, on the reverse and Queen Elizabeth II, the nation's head of state, on the obverse”, together with the following ones: AUD/USD, NZD/USD. These pairs are highly correlated to commodity fluctuations. Canada is commonly known as a resource based economy being a large producer and supplier of oil. The leading export market for Canada is by far the United States making its currency particularly sensitive to US consumption data and economical health.
Gonçalo Moreira explains the correlations that exist between oil, the USD and the CAD:"If Canada is one of the world's largest producers of oil and oil is such a big part of the US economy, rising oil prices tend to have a negative effect on the USD and a positive effect on the CAD. Here you have two nice correlations.” Then he continues his analysis: “If you are willing to find a pair which is really sensitive to oil prices, then pick the.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USDJPY Forecast, News and Analysis - FXStreetCheck our updated for USDJPY News including real time updates, forecast, technical analysis and the economic latest events from the best source of Forex News.
Read more »
GBPUSD Forecast, News and Analysis - FXStreetCheck our updated for GBPUSD News including real time updates, forecast, technical analysis and the economic latest events from the best source of Forex News.
Read more »
USDJPY Forecast, News and Analysis - FXStreetCheck our updated for USDJPY News including real time updates, forecast, technical analysis and the economic latest events from the best source of Forex News.
Read more »
EURUSD Forecast, News and Analysis - FXStreetCheck our updated for EURUSD News including real time updates, forecast, technical analysis and the economic latest events from the best source of Forex News
Read more »
Nio Stock News and Forecast: Why is NIO soaring on Wednesday?$NIO stock soars over 18% in Wednesday's premarket as growth stocks surge. Nio and other Chinese tech names have been heavily sold so far in 2022. The EV automaker continues momentum with more gains in Wednesday's premarket by ivanbrian9 stocks trading
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Fails to Breakout of $40,000 Resistance Level – Market Updates Bitcoin NewsOn the eve of the FOMC meeting, bitcoin once again failed to climb past its long-term resistance level of $40,000 as markets consolidated.
Read more »