End of USD/CAD Bull Trend?
Updated
The loonie looks primed to take ground over the greenback not only in terms of technicals, but also fundamentals.
This week, on the 19th, the Fed will give us insight into future changes in the federal funds rate, with most language being dovish recently. They probably won't lower it this upcoming week, but rather do it in late July and once again in Sept. As of now, there is a 77% chance the rate will stay at 2.50-2.25% for the June 19th meeting, with high expectations of dovish language from Powell.
Right now the rate is set btwn 2.50-2.25%, with it hanging around 2.37% as of now.
The federal funds rate most likely will be lowered to be btwn 2.25-2.00% in July (85% chance as of now) and then 2.00-1.75% in Sept (97% chance as of now) to help stimulate growth as we continue to slip lowering in the business cycle.
For longterm trades like this fundamentals is far more important than technicals. Be safe out there, fellas.
This week, on the 19th, the Fed will give us insight into future changes in the federal funds rate, with most language being dovish recently. They probably won't lower it this upcoming week, but rather do it in late July and once again in Sept. As of now, there is a 77% chance the rate will stay at 2.50-2.25% for the June 19th meeting, with high expectations of dovish language from Powell.
Right now the rate is set btwn 2.50-2.25%, with it hanging around 2.37% as of now.
The federal funds rate most likely will be lowered to be btwn 2.25-2.00% in July (85% chance as of now) and then 2.00-1.75% in Sept (97% chance as of now) to help stimulate growth as we continue to slip lowering in the business cycle.
For longterm trades like this fundamentals is far more important than technicals. Be safe out there, fellas.
Note
As expected, Powell didn't lower rates, but signalled they would in the future
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