Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

Source: PaxForex Premium Analytics Portal, Fundamental Insight

February 28th 2020.

Forex trader eagerly await today’s NFP report out of the US. October’s data was soft, and earlier this week, the ADP private-sector employment report disappointed. Economic data out of the US has been soft all week, and the USDCAD entered a sell-off. Consumer confidence data will also be released, and consumer credit data will be anticipated as the holiday shopping season is underway. What impact will this have on price action?

Forex traders will await US retail sales data which disappointed last month to gauge if consumer spending has picked up once again. Industrial production and manufacturing production is expected to show its second monthly contraction while the Import/Export Price Index is anticipated to show the rise in deflationary pressures. How will this data impact price action in the USDCAD? Today’s fundamental analysis will take a look at price action in both directions.

High level trade talks will begin in Washington today and sources claim that the Chinese delegation is willing to work out a partial trade deal. Markets rallied yesterday after the comments were leaked, but the Trump administration has repeatedly ruled out a partial trade deal. New tariffs are set to kick in on October 15th 2019 and conflicting reports for today’s negotiations have already caused a spike in volatility. Forex traders will also receive inflation data and two reports on the labor market. How will this impact the USDCAD?

Forex traders are eagerly awaiting today’s FOMC announcement. Expectations call for a 25 basis point interest rate cut by the US Fed to 1.75%, but what will Fed Chief Powell hint in regards to future monetary policy? US President Trump has openly criticized his central bank and even called for negative rates. Inflation has been absent and Trump is seeking assistance in his trade war with China. Despite the more dovish central bank, the US Dollar was able to attract safe haven bids. How will the USDCAD perform after today’s interest rate announcement?

Forex traders will eagerly await the release of the August NFP report out of the US. Economists anticipate solid employment gains in the private sector with a minor slowdown in earnings on an annualized basis. Will today’s NFP report rally UD Dollar bulls after the sell-off we witnessed in September so far? The US Fed is expected to cut interest rates again this month and officials are watching the strength of the labor market as the global economy is slowing down as well as inflationary pressures from the wage sector. How will the USDCAD trade after the release of the August NFP report?

A relatively quiet trading day as far as fundamental data is concerned, forex traders will eagerly await minutes from the last FOMC meeting where the US central bank cut interest rates by 25 basis points. The US Dollar remained at elevated levels and with markets pricing in more interest rate cut, can the current strength continue or should forex traders prepare for a sell-off? Existing home sales out of the US could also move price action as the housing market, a prime source for the consumer wealth effect which drives spending, has been overall weak. What does this mean for the USDCAD?

After a wild trading week which featured plenty of market moving economic reports as well as geopolitical developments, forex traders will get a light Friday afternoon session. The PPI report out of the US will be more closely watched than usual as the US Fed is expected to lower interest rates again in September. The lack of inflation as well as inflationary pressures could further boost sentiment for an interest rate cut. How will the US Dollar react? The USDCAD has entered a corrective phase, an it extend further to the downside?

Fresh from the July 4th Independence Day Holiday and with many forex traders taking a long weekend, the key NFP report for June will be released. Following last month’s disappointing reading, expectations for a rebound are high. Sentiment was dampened after Wednesday’s ADP report disappointed. Will June’s report showed a headline figure below 100K as it did in May? How will the USDCAD react if today’s employment data disappoints? Expectations for the US Fed to cut interest rates in July are high and a weak NFP report may cause the central bank to act.

Forex traders will get a heavy dose of economic data out of the US on the last trading day of the week, the month, the second-quarter and the first-half of 2019. With the G-20 Summit in Osaka in full swing, there is plenty of noise, hope and expectations circulating across forex trading desks. Today’s US personal income and spending data as well as the Chicago PMI will likely move price action in the US Dollar, especially if the data comes in weaker than expected. The US Fed stated that interest rate adjustments will become data dependent and the data has been weak.

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here is the key factor to keep in mind today for US Dollar trades: US Existing Home Sales: US Existing Home Sales for September are predicted to decrease by 0.9% monthly to 5.29M. Forex traders can compare this to US Existing Home Sales for August which were reported flat at 0.0% monthly to 5.34M. Here are the key factors to keep in mind today for Canadian Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades:

Here are the key factors to keep in mind today for US Dollar trades: