BTC USD 80,569.4 Gold USD 3,995.86
Time now: Jun 1, 12:00 AM

SuperForex - www.superforex.com

Status
Not open for further replies.
AUD/CAD: review and forecast

Сanadian dollar, is under intense pressure due to falling in oil prices. The rates of CL drops and can not find a base to stabilize. At the moment the price of a barrel of oil CL/WTI costs $ 45.39. Such a low level of prices had been reached only once, this year. After positive GDP data in Canada, at the beginning of the month, there were many factors that had a negative impact on the Canadian dollar. In addition to falling of oil prices, the market also dissapointed with statistics about reduction in the number of building permits by 0.2%, while investors expected in April increasing by 2.4%. Also it has been known about reduction of business activity index in Canada (PMI) to 53.8 against expected 62. A month earlier, the index reached a level of 62.4.
Given the multiple factors against CAD it is not difficult to assume that the upward trend of AUD/CAD continues. But the Australian dollar deserved to grow even despite the weakening of the Canadian dollar. This week, there were data about GDP for the first quarter of 2017: it has grown to 0.3 percent, slightly exceeding the forecast; yoy GDP growth is more impressive - 1.7% vs. expected growth to 1.5%. The reserve Bank of Australia left interest rates unchanged and indicated further economic growth in the next few years.Situation with trading partners of Australia also in favour of Australia. Recently received statistics about China showed growth in exports and imports by 8.7% and 14.8%, significantly exceeding forecasts. In particular, the volume of iron ore imports in May increased by 11%. Also, increased imports of aluminium and copper.
Oscillators indicate different signals. Stochastic signalized the beginning of a price correction and a good time for opening the deals against the trend. Upon short-term trading, such deals may be rather effective. Especially given that today we expect data about the change in employment for Canada which can support CAD. But there are no enough preconditions for a trend change. So, upon medium-term trading, it is better to trust the MACD oscillator and open the deals to BUY.

zmve4hfoqm7txq8ug7hwrktax.jpg
 
nxf63b028rh4kv1bx7ws8i7ku.jpg


Program Kerjasam untuk Projek Pendidikan

Kami membangunakan sebuah pilihan istimewa kepada siapa yang mempunyai kepakaran di kursus latihan Forex khusus kepada pedagang di semua tahap. Sebagai rakan Projek Pendidikan kami, anda akan menerima status sebagai Pusat Latihan Berlesen SuperForex. Anda akan menerima bayaran berdasarkan komisen terhadap dagangan dilakukan oleh peserta kursus. Adalah penting untuk diketahui bahawa anda akan sentiasa menerima komisen terhadap dagangan menamatkan kursus anda.

Lebih maklumat melalui pautan ini https://superforex.com/forex-education-project
 
Status
Not open for further replies.

Latest Posts

Live Forex Chart

Currency
Rates
EUR / USD
1.12018
USD / JPY
156.865
GBP / USD
1.33760
USD / CHF
0.82508
USD / CAD
1.40041
EUR / JPY
175.716
AUD / USD
0.70300
Back
Top
Log in Register