USD/CAD revised outlook from 1.3370 retracement...
Fed's Kaplan (voter) said it is still his opinion that the US economy will grow at a healthy rate in Q3 and Q4 but will not be as proclaimed between the resurge of the virus figures, while he does not believe the future policy will include negative rates. Kaplan also stated he is sceptical on Yield Curve Control although will keep an open mind about it, but added with yields low, he is mindful of Fed action distorting markets and would prefer not to go down the patch of YCC.
Fed's Barkin (non-voter) said the downturn from the pandemic will be longer than originally anticipated and the recovery less steep, while he is confident initial jobless claims will reduce even further.
US Initial Jobless Claims 1186k vs. Exp. 1415.0k (Prev. 1434.0k, Rev. 1435k)
US Continued Jobless Claims 16.11M vs. Exp. 16.72M (Prev. 17.02M, Rev. 16.95M)
It's still safe to say there are huge amounts of uncertainty regarding the dollar at the moment and with many deciding best options for savings, we must continue to focus on what the charts are suggesting.
Here we can see USD/CAD recently pulled back into 1.3370 retracement zone, whilst holding the bearish moving averages on the 4-Hour and Daily TF's. There is a lot of possibilities we will see the next leg down into 1.3200 starts to occur into the next trading week.
Fed's Barkin (non-voter) said the downturn from the pandemic will be longer than originally anticipated and the recovery less steep, while he is confident initial jobless claims will reduce even further.
US Initial Jobless Claims 1186k vs. Exp. 1415.0k (Prev. 1434.0k, Rev. 1435k)
US Continued Jobless Claims 16.11M vs. Exp. 16.72M (Prev. 17.02M, Rev. 16.95M)
It's still safe to say there are huge amounts of uncertainty regarding the dollar at the moment and with many deciding best options for savings, we must continue to focus on what the charts are suggesting.
Here we can see USD/CAD recently pulled back into 1.3370 retracement zone, whilst holding the bearish moving averages on the 4-Hour and Daily TF's. There is a lot of possibilities we will see the next leg down into 1.3200 starts to occur into the next trading week.