USD/CAD Price May Drop, Euro Braces for New Trump EU Trade Probe?

Prices had hit their highest since late September on Thursday after Reuters reported that the Organization of Petroleum Exporting Countries (OPEC) and Russia are likely to extend existing production cuts for another three months until mid-2020 when they meet on Dec 5. It is worth remembering that prices need to go through the 20 days of SMA before creating a significant bullish movement. By the way, prices are vulnerable to a correction towards 1.30. Strong support was found above the upper midline (UML) of the ascending minor fork and now it has managed to rise above the sliding line (minor ascending dashed line), signaling that the bulls are in full control and could carry the rate towards new fresh highs. As can be seen, the price failed to break above the moving average at the beginning of the week. Prices are also curiously exceeded under the former rising support line from July see red dotted line below. In addition to the weakness of the Japanese yen, the EUR’s price against the dollar also fell to 2016 low levels after the US presidential election.

The bank has offices in 80 countries and has 1,800 positions in the U.K .. and provides loans, financing for businesses, credit cards, as well as money management for individuals and high-net-worth businesses. It also offers money market vehicles, investment opportunities and exchange and transfer services. All the banks in our top 10 list do international business, so wealth from countries with smaller banks is flowing through the top 10 players. Not only is it the third largest bank on our list, but it is also one of the 10 largest companies in the world.

Indeed, as JP Morgan John Normand has observed, in a recent preview of the elections, macro asset classes, currencies should react more to a Trump victory since its trade protectionist measures (duties on Chinese and Mexican imports) are easier to implement through an executive order of a budget program that requires Congress approval. So when a country’s currency weakens, in relation to the dollar (ie the greenback grows comparatively stronger), the Trump administration hawks sit and take notice! The single currency has fired high on reports that the European Central Bank will not change their leadership when they meet next week and will instead postpone the announcement until summer. Meanwhile it was another mixed day for product currencies with the Canadian dollar rising on the back of higher oil prices, the New Zealand dollar falling on quarter-end flows and the Australian dollar held steady.

The move prompted an immediate reaction of the sterling exchange rate, with Sterling increasing hopes that the PM’s direct involvement will help speed up the negotiation process. The move to cooperate with NetEase and establish a joint game 5G cloud lab is part of Huawei user-centric efforts to make 5G serve the cloud gaming industry. One of the simplest ways to capture inflation expectations is through the sovereign fixed income market, and in particular with the search for higher returns. The simplest place to see the potential for extreme monetary policy divergence is between the Bank of Japan and the Federal Reserve should the Federal Reserve started hiking rates several times a year.

Markets will be looking for some guidance from the May minutes, and if the message from federation policymakers is hard-hitting, traders can expect the US dollar to post earnings. Usually, the stock market could capture the smallest bit of hope for upward trade. Until then, the markets will be left with the uncertainty over whether Trump will be so unorthodox as a President he was an election candidate. FX markets have been shaken by Trump’s comments that he prefers a weaker USD and lower interest rate policy, “say TD Securities. The markets may have already discounted the US withdrawal potential from the 2015 contract, or perhaps expect to see some sort of a melting agreement that actually still allow allies to continue buying Iranian oil. A week after the US presidential election, financial markets seemed to be in a state of confused bliss. Asian and European stock markets are seeing red on Wednesday, as is the Canadian dollar.

CAD retail sales and the IPC will provide the first high-level data since the July BoC meeting, ‘point’ off TD Securities. CAD retail sales and inflation data dominate the Canadian dollar calendar today. Canadian retail sales and inflation on Friday stand out.