October 2017 Canadian trade balance 5 December 2017
- Prior -3.18bn. Revised to -3.36bn
- Imports -1.6% vs -0.3% prior at
- Exports 2.7% vs -0.3% prior
A decent reduction in the trade deficit sees CAD continue its bullish run as USDCAD hits 1.2625 from 1.2642. That’s good news for the economy as exports stopped a 4 month losing streak.
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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Long EURCAD at 1.4955. Could retrace a bit into the BoC. Or not and in this case I’ll be out if we find resistance below 1.499 or lower
Hi 5M
I’m currently long USDCAD in small clips from 1.2789 down to 1.2655. It’s looking avery ugly but I wan’t to stay in over the BOC as I think the market is far too hawkish.
At the moment though, I’m looking at trying to get out near breakeven, let alone in profit 😀
We could see some profit taking before BoC. Also looking at daily charts CAD near resistance against EUR JPY CHF. AUD and NZD too. I think CAD might lose a bit today/tomorrow but then go figure what the Poloz will do, I think I’ll be out before him. Though you might end up with a good trade if he turns on the dovish side. A lot of confusion regarding CAD outlook at the moment imho
And vs GBP , have a look at the 1.6930/50 zone https://uploads.disquscdn.com/images/e453ff41ae782497779a66cde53dfaa6a8681488edc90ed9bd71ea64dd6f9f62.png