{"id":133520,"date":"2018-09-11T10:41:00","date_gmt":"2018-09-11T14:41:00","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133520"},"modified":"2018-09-11T06:41:57","modified_gmt":"2018-09-11T10:41:57","slug":"usdcad-analysis-weak-canadian-economic-data-bullish-for-usdcad","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/usdcad-analysis-weak-canadian-economic-data-bullish-for-usdcad\/","title":{"rendered":"USDCAD Analysis – Weak Canadian economic data bullish for USDCAD"},"content":{"rendered":"
September 11, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

Weak Canadian economic data bullish for USDCAD<\/strong><\/p>\n

Unemployment in Canada rose in August while the building activity slowed. Will the USDCAD <\/a> rising continue?<\/p><\/blockquote>\n

The Bank of Canada kept its interest rate steady at 1.5% last Wednesday. Economic data released after that were weak: building permits fell in July when an increase was expected, and unemployment rose to 6% in August from 5.8% as labor force participation rate slipped to 65.3% from 65.4%. Weak Canadian economic data are bullish for USDCAD.<\/p>\n

\"USDCAD<\/p>\n

On the daily timeframe USDCAD: D1 <\/b> had been trading with negative bias after hitting twelve-month high in the end of June. The price has returned above the 50-day moving average MA(50) and has breached above the resistance line.<\/p>\n