{"id":115055,"date":"2017-10-20T09:35:01","date_gmt":"2017-10-20T13:35:01","guid":{"rendered":"http:\/\/countingpips.com\/?p=115055"},"modified":"2018-06-01T15:55:30","modified_gmt":"2018-06-01T15:55:30","slug":"usdcad-forex-technical-analysis-improving-data-bullish-for-canadian-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/usdcad-forex-technical-analysis-improving-data-bullish-for-canadian-dollar\/","title":{"rendered":"USDCAD: Forex Technical Analysis – Improving data bullish for Canadian dollar"},"content":{"rendered":"
October 20, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Improving data bullish for Canadian dollar<\/strong><\/p>\n

Recent positive data suggest Canadian economy performs better than expected. Will the USDCAD <\/a> continue recent slide?<\/p>\n

Recent positive data support the view of further monetary tightening as Canadian economy performs better than expected. Manufacturing sales recorded 1.6% growth in August from a 2.6% decline in July, beating expectations of negative 0.3%. Employment rose in September, tenth month of job gains in a row. And September inflation report is due today at 14:30 CET : a rise in headline inflation to 1.7% from 1.4% in August is expected. A weaker inflation report may be bullish for USDCAD.<\/p>\n

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

USDCAD: D1 <\/b> has been trading with negative bias on the daily timeframe since it hit a sixteen-month high in the beginning of May. The price is testing the 50-day moving average MA(50).<\/p>\n