{"id":170755,"date":"2020-05-19T11:03:42","date_gmt":"2020-05-19T15:03:42","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170755"},"modified":"2020-05-19T08:04:49","modified_gmt":"2020-05-19T12:04:49","slug":"cad_index-analysis-growing-oil-prices-can-support-the-canadian-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/cad_index-analysis-growing-oil-prices-can-support-the-canadian-dollar\/","title":{"rendered":"CAD_Index Analysis: Growing oil prices can support the Canadian dollar"},"content":{"rendered":"
May 19, 2020<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Growing oil prices can support the Canadian dollar<\/strong><\/p>\n

The share of energy products in Canada’s exports reaches 30%. They include oil and petroleum products, natural gas and coal. The cost of energy products is correlated with oil quotes. As a rule, the Canadian dollar strengthens with rising hydrocarbons prices. West Texas Intermediate (WTI) oil is getting more expensive for the 5th day in a row and has already surpassed the psychological level of $ 30 per barrel. Investors believe that as quarantine is lifted in all countries of the world, fuel demand will recover. In particular, the demand for oil in China approached the \u201cpre-quarantine\u201d level. Citibank raised its forecast for WTI to $ 42 per barrel by the end of the year. On Monday, the United States announced successful trials of the vaccine against Covid-19, which contributed to a strong increase in oil prices. Inflation data will be released in Canada on Wednesday, and retail sales on Friday.<\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicator<\/th>\nVALUE<\/th>\nSignal<\/th>\n<\/tr>\n<\/thead>\n
RSI<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
MACD<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
MA(200)<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
Fractals<\/td>\n<\/td>\nNeutral<\/td>\n<\/tr>\n
Parabolic SAR<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n
Bollinger Bands<\/td>\n<\/td>\nBuy<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Summary of technical analysis<\/h2>\n\n\n\n\n\n
Order<\/b><\/td>\nBuy<\/td>\n<\/tr>\n
Buy stop<\/b><\/td>\nAbove 0,773<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nBelow 0,753<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Growing oil prices can support the Canadian dollar The share of energy products in Canada’s exports reaches 30%. They include oil and petroleum products, natural gas and coal. The cost of energy products is correlated with oil quotes. As a rule, the Canadian dollar strengthens with rising hydrocarbons prices. West Texas Intermediate (WTI) […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-170755","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=170755"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170755\/revisions"}],"predecessor-version":[{"id":170777,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170755\/revisions\/170777"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}