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Fundamental Analysis
Fundamental updates by Solid ECN
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[QUOTE="SOLIDECN, post: 213965, member: 80239"] [HEADING=1][JUSTIFY]USDCAD - Trading near record highs[/JUSTIFY][/HEADING] [JUSTIFY]Market activity remains subdued as investors await today's release of US consumer inflation data, which may soon shed light on the US Fed's monetary policy outlook. Thus, if forecasts of a decrease in the indicator to 8.0% come true, the regulator may revise its "hawkish" rhetoric and move on to a more measured rate increase. In the meantime, experts have at their disposal a report on manufacturing inflation, released yesterday: the producer price index rose by 0.4% in September after falling by 0.2% last month, although analysts expected an increase of 0.2%, while in annual terms, the value slowed down from 8.7% to 8.5% compared to forecasts of a decline to 8.4%. [img]https://i.ibb.co/zFxn8rc/usdcad-1.png[/img] There key statistics from Canada will be released on Friday: forecasts suggest a sharp decrease in the dynamics of manufacturing sales by 1.8% after falling by 0.9% last month. Also, there is a possibility that the market will ignore this data against the backdrop of US publications on retail sales in September and consumer confidence in October. [img]https://i.ibb.co/YfrmVrc/usdcad-2.png[/img] [B]Resistance levels[/B]: 1.3853, 1.3930, 1.4, 1.41 | [B]Support levels[/B]: 1.3759, 1.37, 1.365, 1.36[/JUSTIFY] [/QUOTE]
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