{"id":162001,"date":"2019-12-18T07:48:13","date_gmt":"2019-12-18T12:48:13","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=162001"},"modified":"2019-12-18T07:20:04","modified_gmt":"2019-12-18T12:20:04","slug":"cad_index-analysis-preparing-for-the-publication-of-significant-statistics-in-canada","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/cad_index-analysis-preparing-for-the-publication-of-significant-statistics-in-canada\/","title":{"rendered":"CAD_Index Analysis: Preparing for the publication of significant statistics in Canada"},"content":{"rendered":"
December 18, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Preparing for the publication of significant statistics in Canada<\/strong><\/p>\n

In this review, we suggest considering the personal composite instrument (PCI) & CAD_Index. It reflects the price dynamics of the Canadian dollar against other world currencies. Will the CAD_Index<\/a> rise?<\/p>\n

The share of hydrocarbons in Canadian exports reaches 25%, therefore, the Canadian dollar may strengthen along with an increase in global oil prices. Inflation data for November will be released on December 18. It is expected to rise to 2.2% year over year from 1.9% in October. This reduces the likelihood of a rate cut by the Bank of Canada at the next meeting on January 22, 2020, and can positively affect the Canadian dollar. The interest rate of the Bank of Canada is 1.75%, and the target range of inflation is 2% plus\/minus 1%. Let us note that wholesale and retail sales for October will be published this week in Canada.<\/p>\n

\"CAD_Index\"<\/p>\n

On the daily timeframe, the CAD_Index: D1<\/b> is correcting up and has exceeded the resistance line of the short-term downtrend. A number of technical analysis indicators formed buy signals. The further price growth is possible in case of positive news in Canada and an increase in oil prices.<\/p>\n