USDCAD - ISM MANUFACTURING TODAY
- The most important indicator data for the US dollar is due to be released today. ISM MANUFACTURING DATA is one of the most important DATA. So we need to look at the US dollar today. Also, the Canadian dollar is not showing any significant news today.
- DXY is currently at 103.72 LEVEL. USD has become STRONG in the last few days. Also, the CAD FEATURE is slightly down to 0.7767 LEVEL. However, compared to DXY, CAD is now WEAK due to OIL being DOWN.
- OVERALL MARKET is currently NEUTRAL. Last Friday also a NEUTRAL TONE was played in the NEWYORK SESSION on the MARKET. US STOCKS are currently showing a GREEN SIDE BIAS. And VOLATILITY is becoming UP. Also COMMODITIES still shows a DOWN SIDE BIAS. There is a NEUTRAL BIAS currently on the market. It's a bit more than the DOWN SIDE BIAS. Because it is VIX UP and EQUITIES NEUTRAL. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. But according to the data available so far we can say that MARKETS RISK is OFF.
- OIL PRICE is currently down a bit. It will inevitably affect CAD.
- USDCAD PRICE can be DOWN to 1.2772 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2963 LEVEL. The USD is slightly stronger at this time due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD. DXY is BUY because of the STRONG SENTIMENT that the US dollar has received so far, but it could be DXY CORRECTION in the future because it has been BUY for the last few days.
- DXY is currently at 103.72 LEVEL. USD has become STRONG in the last few days. Also, the CAD FEATURE is slightly down to 0.7767 LEVEL. However, compared to DXY, CAD is now WEAK due to OIL being DOWN.
- OVERALL MARKET is currently NEUTRAL. Last Friday also a NEUTRAL TONE was played in the NEWYORK SESSION on the MARKET. US STOCKS are currently showing a GREEN SIDE BIAS. And VOLATILITY is becoming UP. Also COMMODITIES still shows a DOWN SIDE BIAS. There is a NEUTRAL BIAS currently on the market. It's a bit more than the DOWN SIDE BIAS. Because it is VIX UP and EQUITIES NEUTRAL. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. But according to the data available so far we can say that MARKETS RISK is OFF.
- OIL PRICE is currently down a bit. It will inevitably affect CAD.
- USDCAD PRICE can be DOWN to 1.2772 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2963 LEVEL. The USD is slightly stronger at this time due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD. DXY is BUY because of the STRONG SENTIMENT that the US dollar has received so far, but it could be DXY CORRECTION in the future because it has been BUY for the last few days.
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