Trading session on Wednesday proved to be very fruitful for the Canadian dollar, which received significant support after the Bank of Canada decided to raise its key interest rate by 0.25% to 1.75%. This decision was the fifth since 2017. At the moment of couple USDCAD fell more than 100 points, tested psychological bar 1,30. No less a catalyst for the growth of Canadian intentions were identified by the Canadian regulator continue to raise rates to at least 2.5% in order to keep inflation under control.
Market participants drew attention to the fact that the Bank of Canada has excluded from the accompanying statements comment on the gradual tightening of monetary policy, which was seen as the announcement of a rapid rise in interest rates. Many flattering to address the Canadian economy has been said on the press conference of the Bank of Canada management. In particular, the deputy chairman of the Carolina Wilkins noted that "the new trade agreement between Canada, the United States and Mexico (USMCA), which replaced the NAFTA, will reduce uncertainty in the North American trade policy and favorable impact on the trade balance of the country." Including on the basis of the Bank of Canada revised its economic growth forecast for 2018 to 2.1%. Canada's GDP growth forecast of 3 square meters. It has been revised to 1.8% from 1.5% earlier.
USDCAD SellStop 1,3010 TP 1,281 0 SL 1,3070
Brent crude oil futures closed the trading session on Wednesday in the vicinity of support of $ 75 per barrel. oil pressure, as expected, had a report of the Energy Information Administration, reported an increase in US oil inventoriesExtending 5 consecutive week. According to published data on oil reserves last week increased by 6.3 million. Barrels to 423 million. Barrels, reaching the highest level in nearly 6 months. The reaction of traders report was rather low-key, because EIA report also testified about the cumulative reduction of stocks of gasoline and distillates at 7.1 million. Barrels. At the same time supply of gasoline to the US market increased by 141 th. Barrels per day to 9.3 million. Barrels per day. Additional pressure on crude oil continued to have panic sell-off in global stock markets, due to disappointing quarterly reporting season. In addition, vendors are actively and act out the prospect of a slowdown in global economic growth, which inevitably will affect the demand for hydrocarbons.
UKOIL SellStop 75,30 TP 73 , 50 SL 75,80
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