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The Canadian dollar has been on the back foot since inflation figures missed the mark on Friday. While the big break came in reaction to that publication, the pair extended its rises also into the new week. USD/CAD now faces resistance at the highs of early September, at 1.2665. It flirted with that level yesterday [...]
The post USD/CAD flirting with high resistance -in the hands of the BOC appeared first on Forex Crunch.
The German powerhouse rages on, with Markit’s manufacturing PMI still pointing to strong growth: 60.5 points, slightly above expectations. The services PMI is a bit lower: 55.2, yet manufacturing carries more weight. EUR/USD stabilizes in the narrow range. Markit’s preliminary German manufacturing PMI for October was expected to tick down from 60.6 to 60.2 points. [...]
The post German Manufacturing PMI beats with 60.5 – EUR/USD unimpressed appeared first on Forex Crunch.
The UK publishes its first estimate for GDP growth on Wednesday, October 25th at 8:30 GMT. There are good reasons to believe it will trigger high volatility, and there is room for a surprise to the downside. Here is a preview for the event with GBP/USD. The British economy grew by a very stable yet [...]
The post GBP/USD: Trading the first release of Q3 GDP – a downside surprise? appeared first on Forex Crunch.