Now, once again, U/C is above that key , it becomes a strong . To broke it, market needs to provide data or important information.
But in my opinion, this week, there is no Canada data which can affect mostly on U/C move. U/C move would be guide by US data. Those are Two FED Speeches and the move of gold and oil which I show in
Good luck for all trader this week, and waiting for next my Forex product.
BoC declared Inflation didn't act as they expected. And Canada economy was not good as they want. BoC abandoned Hawkish Stance and began to consider dovish stance, more and more money would be printed.
Plus, US economy seems recover very well. This pressures on Canadian Dollars. Next month, if FED begins taper, Canadian Dollar absolutely devaluates more and more.
Thus, in the long term, I think U/C rallies.