- An Insurance Fed Rate Cut?
- USD/CAD broke key level
Price Movement
Since yesterday, USD/CAD has been moving indecisively within a 60pips range.
Trend
USD/CAD is trending downwards.
Important Issue
Yesterday during an interview with Bloomberg, Federal Reserve Bank of St. Louis President James Bullard highlighted that an insurance Fed rate cut now may be necessary as inflation target has been running below target.
He also mentioned that a 50 basis point (0.50%) rate cut would be “overdone” whereas a 25 basis point (0.25%) rate cut seems more appropriate.
Technical
This morning, USD/CAD tested and broke the 1.32 key level downwards.
Price Levels
Current Price: 1.31606
Next Resistance: 1.3260
Next Support: 1.31200
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.