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14 July 2017

USD/CAD: general review

By Kristina Leonova: Chief Analyst in the Investment Research Department

USD/CAD: general review
Yesterday Canadian dollar continued to strengthen against USD. The market is under the influence of interest rate increase by the Bank of Canada which caused the pair to decrease by over 200 points. US dollar failed to regain at least a part of its positions, and reserved comments by the head of FOMC Janet Yellen and the lack of "hawkish" tendencies in them did not give USD any support.
Today traders will have to pay attention to the news from the USA, namely the data on retail sales and changes in the consumer price index. By now the fall has slowed down, and slight correction has occurred, which may indicate the downward trend. In case statistical releases are positive, USD may strengthen and the pair may move giving the "bears" an opportunity to enter the market at more beneficial prices.
Support levels: 1.2700, 1.2650.
Resistance levels: 1.2750, 1.2780, 1.2850, 1.2950.

This website/communication is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. It has been prepared by Liteforex (Europe) Ltd (ex. Mayzus Investment Company Ltd) without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision. Past performance is not indicative of future performance. The future value of your investment may rise and fall with the changes in the market.
About the author
Kristina Leonova
Kristina Leonova
Chief Analyst in the Investment Research Department

Kristina Leonova is an up and coming market specialist - currently in the process of obtaining The Chartered Financial Analyst Degree in CFA Institute.

She began her career at Liteforex (ex. Mayzus) at only 20 years old, holding the position of the Assistant of the Chief Financial Officer.

She has since become invaluable to the Company, holding the position of Chief Analyst in the Investment Research Department, and now is also responsible for our world renowned market reviews.

She has a keen eye and a good gut instinct when it comes to analyzing the markets, always staying at the top of her game, with her work often being published on other websites and news vendors.

Mayzus is excited to welcome her as our new, top financial analyst.

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