By IFCMarkets
Preparing for publication of important statistics in Canada
The upward movement indicates the weakening of the Canadian dollar against the US dollar. Annual inflation in Canada is expected to rise, from -0.2% in April to 0.3% in May. Core inflation can rise to 1.45% from 1.2%. Data will be released on 16-30 CET. The Labour Market Review by the independent agency ADP will be published in Canada on Thursday. On Friday, June 19, retail sales will be released. Hydrocarbons make up a large part of Canada’s exports, so the dynamics of the exchange rate may depend on oil prices. The Fed’s regional directors are expected to speak this week, and this may have an impact on the American dollar. Fed Chairman Jerome Powell will speak on Wednesday and Friday at the Federal Open Market Committee (FOMC). On Wednesday, the US will publish the real estate market and construction indicators, on Thursday – the number of unemployed for the week, and on Friday – the current account balance for the first quarter. All their forecasts look neutral and can affect the market only if there is a large discrepancy in the real data.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Buy | |
| MACD | Neutral | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Bollinger Bands | Neutral |
| Order | Buy |
| Buy stop | Above 1.366 |
| Stop loss | Below 1.33 |
Market Analysis provided by IFCMarkets