USD - Weak Bearish
1️⃣ Rising global market sentiment that prompted investors to exit safe-haven currencies such as the USD despite 10-year Treasury yields being at a 4-month high.
CAD - Weak Bullish
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The annual inflation rate in Canada rose to 4.4% in September from 4.1% in the previous month, and beat market forecasts.
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Technical
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We are selling the USDCAD after it failed to break the resistance level.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ Rising global market sentiment that prompted investors to exit safe-haven currencies such as the USD despite 10-year Treasury yields being at a 4-month high.
CAD - Weak Bullish
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The annual inflation rate in Canada rose to 4.4% in September from 4.1% in the previous month, and beat market forecasts.
=====
Technical
=====
We are selling the USDCAD after it failed to break the resistance level.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
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