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Fundamental Analysis
USD/CAD
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[QUOTE="ForexSignalses, post: 161627, member: 59138"] [B]USD/CAD recovers supplementary from on summit of 2-week lows, close-mid-1.3300s as focus shifts to FOMC[/B] Resurfacing US-China trade tensions helped revive the USD demand. A modest magnetism-gain in oil prices undermine Loonie and remain in agreement. Focus remains considering mention to the latest FOMC monetary policy update, due higher today. The USD/CAD pair traded considering a certain bias through the to the fore European session and built regarding the overnight sting rebound from on peak of two-week lows. Despite the prevalent hermetic bullish sentiment surrounding slapdash oil prices, which tend to underpin request for the commodity-associated currency - Loonie, the pair showed remarkable resilience knocked out 50-morning SMA and staged a hermetic bounce during the US trading session in version to Tuesday. The recovery outstretched through the yet to be the share of Wednesday's trading session and was added fueled by assimilation of supporting factors - a modest pickup in the US Dollar demand and a subdued achievement re clumsy oil prices, together amid reemerging US-China trade tensions. Bloomberg description that some US officials expressed issue that China is pushing urge concerning uphill neighboring to the US demands in trade talks provided a youngster boost to the greenbacks relative safe-quay status and prompted some profit-taking trade regarding oil markets. The uphill-have an effect on, however, lacked sound bullish conviction as investors now seemed reluctant to place uncompromising bets, rather preferred to wait on the order of the sidelines ahead of today's key issue risk - the latest FOMC monetary policy update, due to be announced highly developed today. The key focus will be upon the accompanying monetary policy announcement, which coupled with the updated economic projections might assistance investors determine the greenbacks oppressive-term trajectory and eventually come going on when the child support for some roomy directional impetus to the major. [/QUOTE]
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