$EURCAD - Larger trend down #Greece bundling signals alarms
We are looking for OPEC to set the tone for strength of WTI
Highlights of the May 2015 Canadian Ivey PMI data.
65.2 vs 55.7 prior
This is a big beat.
This moves CAD into Neutral Stance. We need to see some positive OPEC outcomes in OIL demands as CAD is following WTI to support this trade.
Greece pushes out IMF payment. Even if payment is eventually made. Rally looks like it will be capped.
The bundling to me sent alarm bells. This is truly the first time payment of bills are being skipped.
Who knows if they will even make the payment at end of month.
Surely 200-300 pip retracement is due.
Highlights of the May 2015 Canadian Ivey PMI data.
65.2 vs 55.7 prior
This is a big beat.
This moves CAD into Neutral Stance. We need to see some positive OPEC outcomes in OIL demands as CAD is following WTI to support this trade.
Greece pushes out IMF payment. Even if payment is eventually made. Rally looks like it will be capped.
The bundling to me sent alarm bells. This is truly the first time payment of bills are being skipped.
Who knows if they will even make the payment at end of month.
Surely 200-300 pip retracement is due.