Homiya
Short

USDCAD will it drop due to oil freeze?

FX:USDCAD   U.S. Dollar/Canadian Dollar
179 2 3
Oil             prices have been falling all times low ...

Oil             producers have lost billions on oil             slippage

There is a excessive supply for oil             over demand

Saudis and Russia are the biggest oil             producers in the world

They with Venizula, Qatar if eventually freeze oil             supply

Oil             prices will go up (if Iran also agrees)

Lower the supply higher the price..

Any price rise in oil             will favour CAD pairs

For this deal to take place takes time and

USA inflation 0.7% Interest Rate 0.5%

CAD Inflation 1.6% Interest Rate 0.5%

CAD Unemployement 7.2% US unemployement 4.9%

inflation of US is lower than Canada

Higher the inflation lower the purchasing power

Short term USD dollar will be stronger

Selling @ 1.4066
TP1 near low 1.3650
TP2 1.3235
TP 3 1.2478


Homiya
9 months ago
CAD inflation rate increased from 1.6% to 2.0%

USA inflation rate increased from 0.7% to 1.4% (2.0% being FED's target..)
Reply
Homiya Homiya
9 months ago
Data from tradingeconomics.com
Reply
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