{"id":112222,"date":"2017-09-05T08:45:39","date_gmt":"2017-09-05T12:45:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=112222"},"modified":"2017-09-05T07:02:27","modified_gmt":"2017-09-05T11:02:27","slug":"usdcad-forex-technical-analysis-accelerating-growth-is-bullish-for-canadian-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/usdcad-forex-technical-analysis-accelerating-growth-is-bullish-for-canadian-dollar\/","title":{"rendered":"USDCAD: Forex Technical Analysis – Accelerating growth is bullish for Canadian dollar"},"content":{"rendered":"
September 5, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Accelerating growth is bullish for Canadian dollar<\/strong><\/p>\n

Canadian economy expanded faster than expected in the second quarter. Will the Canadian dollar <\/a> continue strengthening?<\/p>\n

Canada\u2019s economic growth accelerated in the second quarter: GDP rose at a 4.5% annualized pace. The increase in household spending was the main driver of growth. With Canadian economy accelerating the likelihood of monetary tightening after the Bank of Canada hiked interest rates in July for the first time in seven years increases. This is bullish development for Canadian dollar.<\/p>\n

\"USDCAD\"<\/p>\n

USDCAD: D1 <\/b> has been falling on the daily timeframe since it hit a fifteen-month high in the beginning of May. The price is below the 200-day and 50-day moving averages MA(200)and MA(50) , both on decline after levelling off.<\/p>\n