{"id":122820,"date":"2018-03-08T08:14:49","date_gmt":"2018-03-08T13:14:49","guid":{"rendered":"http:\/\/countingpips.com\/?p=122820"},"modified":"2018-06-01T15:42:16","modified_gmt":"2018-06-01T15:42:16","slug":"usdcad-forex-technical-analysis-us-import-tariffs-bullish-for-usdcad","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/usdcad-forex-technical-analysis-us-import-tariffs-bullish-for-usdcad\/","title":{"rendered":"USDCAD : Forex Technical Analysis – US import tariffs bullish for USDCAD"},"content":{"rendered":"
March 8, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

US import tariffs bullish for USDCAD<\/strong><\/p>\n

Recent Canadian mixed data and US metals import tariffs weigh on Canadian dollar. Will the USDCAD <\/a> continue recent climb?<\/p><\/blockquote>\n

Bank of Canada left its benchmark interest rate unchanged at 1.25% during its policy meeting on Wednesday. Recent economic data were mixed: January trade deficit narrowed while the Canadian GDP expanded at 1.7% annual rate in fourth quarter, higher than the 1.5% in Q3 but below expectations of a 2% growth. President Trump\u2019s plans to impose tariffs on steel and aluminum imports negatively impacted Canadian dollar: Canada is the largest exporter of such metals to the US. And while Trump tweeted tariffs may not affect Canada and Mexico if new, \u201cfairer\u201d North American Free Trade Agreement is concluded the negotiations may drag out far longer than expected.<\/p>\n

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

USDCAD: D1 <\/b> has been rising on the daily timeframe since it hit a six-month low in the beginning of February. The price is above the 200-day moving average MA(200).<\/p>\n