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Main » 2019 » June » 5 » What the trader earn today? Trading Ideas 05.06.2019 - Is "Canadian" has retained an upward trend?
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What the trader earn today? Trading Ideas 05.06.2019 - Is "Canadian" has retained an upward trend?

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Tuesday trading session was successful for the Canadian dollar, which managed to recover against its American rival. At closing, the USDCAD pair has successfully tested support below 1.34 and was fixed by closing the session at 1.3370. On the side of "Canadian" buyers were local oil recovery, as well as the weakness of the US currency. Strengthening trade confrontation between the US and China led to an increase in yield of US bonds. At the moment, the yield on 10-year Treasuries fell to 2.1%, which corresponds to the lowest level since 2017.

 

 

AMarkets

 

 

Demand for Treasuries Treasuries also due to the release of weak statistics in the United States, to increase the probability of a recession of the US economy. Market participants believe that against this background, the US regulator will move to a more proactive and, in order to maintain economic growth, begin to cut interest rates. The first such decision by the Fed may adopt in September. The prospect of monetary easing in the US and became the reason for the decline of the US dollar, than successfully used the buyers "Canadian." Nevertheless, market participants' attention rather quickly can switch back to the fundamental weakness of Canada itself. This Friday will be published data on the labor market in Canada. If the statistics once again disappoint the Bank of Canada is also ponder about the decrease in the rate, and this is an excellent opportunity to sell Canadian currency.


USDCAD BuyLimit 1,3350 TP 1,36 SL 1,3310


Brent crude during the trading session on Tuesday shifted to growth, closing the day at $ 62.03 per barrel. During the day, amid concerns over the prospects for global economic growth and quotes went into negative territory, with the result that was recorded daily minimum $ 60.21. Earlier, the market is still a wave of sales of risky assets, which will serve as a trigger output of weak data on business activity of the manufacturing sector of the Eurozone and the United States reporting the global trend of industrial decline. It is worth noting that oil prices failed to maintain a downward trend even after data from the American Petroleum Institute, according to which the reserves of oil and gasoline in the US last week rose again, to 3.5 million. And 2.6 million. Respectively. Today at 17: 30 GMT traders attention will be presented to an official report from the Energy Information Administration. Recall that the results of the last two weeks of gasoline reserves growth in the period of increased demand for the fuel was one of the main causes of aggressive sales of all of the oil market. Assuming the continuation of such dynamics, the situation could easily happen again today. Lower oil prices may also accelerate the disappointing report on activity in the US service sector, the risk of becoming yet another proof of the inevitable recession of the US economy. Report on activity in the service sector ISM will be released today at 17:00 GMT. Assuming the continuation of such dynamics, the situation could easily happen again today. Lower oil prices may also accelerate the disappointing report on activity in the US service sector, the risk of becoming yet another proof of the inevitable recession of the US economy. Report on activity in the service sector ISM will be released today at 17:00 GMT. Assuming the continuation of such dynamics, the situation could easily happen again today. Lower oil prices may also accelerate the disappointing report on activity in the US service sector, the risk of becoming yet another proof of the inevitable recession of the US economy. Report on activity in the service sector ISM will be released today at 17:00 GMT.


Brent SellStop 61,30 TP 59,50 SL 61,80


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev company AMarkets.

 

 

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