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Usdcadanalysis

Will USDCAD Breakout with Western Texas Oil on the Rise?Are you ready for some oil talk? Because I've got some juicy information for you that might make your day. Rumor has it that Western Texas oil is about to rise, which could mean big things for the USDCAD. You see, the Canadian dollar is heavily tied to the oil price, and if it goes up, we might see a breakout in the USD CAD. So, what does that mean for you? It means that you might want to consider loading up on oil and potentially making some sweet, sweet profits. Now, I know what you're thinking. "But wait, isn't oil a volatile market? Isn't it risky?" And to that, I say, "Of course it is! But what's life without a little risk, am I right?" So, if you're feeling adventurous and want to capitalize on the rise of Western Texas oil, I encourage you to load up and get ready for the ride. Who knows, you might just come out on top. Happy trading!
Long
by bryandowningqln
USDCAD: The influence of USDThe BoC takes a more dovish path The Bank of Canada flagged areas sensitive to rising interest rates like the housing sector. The BoC noted that housing activity has fallen sharply and household spending is falling. Furthermore, in the released statement prior to the Q&A BoC’s Macklem stated that the tightening phase will draw to a close, ‘but not there yet’. He added that they expect growth to fall in the next few quarters. As a balance to this statement, the BoC still stated that policy interest rates will need to rise further to counter elevated inflation. The Council also repeated that the bank’s preferred measure of inflation (core) is not showing meaningful signs of price pressure easing. So, this means the BoC is starting to start thinking about slowing the path of rates. This is a more dovish stance from the BoC and should allow the CAD to weaken somewhat over the medium term. After the rate statement, Governor Macklem highlighted that he expected a ‘significant slowing of the economy to occur’.
Long
by Jiren-SphynChannels
1
USDCAD: US Dollar's position as the primary global reserve curreThe Return of the Sellers Over the past two decades, the US Dollar's market share has declined from 71 percent to 59 percent, and it may continue to reduce further in the future. This has a negative impact on the United States since global currency usage is a zero-sum game. When other currencies like Yuan, real, or Rupee are used in global trade, the US Dollar is left out. If other currencies gain more prominence, it may compromise America's dominance in the global market.
Short
by Jiren-SphynChannels
USD/CAD 1WThe price from it TopView; currently USD/CAD is in a consolidation phase to continue with it trend and at the same point with the major consolidation phase, yet a minor degree correction wave is occurring as « Descending Triangle. While the major phase is a semi-falling flag, say a descending since the peak price are making series of higher lows but not in an obvious way same as the troughs lower lows match the trend line not exactly too low. The price highs peak line is a potential key Resistance or Turning point
by DataSeer_TB