USDCAD: FED Cut Speculation Keeps Pair on a Tightrope
In the current environment, where the market expects the FED to cut rates next week by 25 to 50 basis points, trading USDCAD comes with a very high level of risk.
The market today will also speculate on the US PCE data and its potential impact on the FOMC's rate cut decision.
US PCE is expected to be 2.8% vs. 2.7% YoY and Core PCE data is expected to be 2.9% vs. 2.9% YoY.
A higher reading could help the US dollar show some strength. However, I think with small deviations, a 25 basis point cut is already possible, and it was already priced in, so we should be cautious.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
In the current environment, where the market expects the FED to cut rates next week by 25 to 50 basis points, trading USDCAD comes with a very high level of risk.
The market today will also speculate on the US PCE data and its potential impact on the FOMC's rate cut decision.
US PCE is expected to be 2.8% vs. 2.7% YoY and Core PCE data is expected to be 2.9% vs. 2.9% YoY.
A higher reading could help the US dollar show some strength. However, I think with small deviations, a 25 basis point cut is already possible, and it was already priced in, so we should be cautious.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
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.