Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
Today, the USD/CAD pair broke its two-day winning streak.
The decline in the USD/CAD pair can be attributed to the commodity-linked Canadian dollar, which is receiving support from rising crude oil prices, given that Canada is the largest oil exporter to the United States. For the second consecutive day, the price of WTI (West Texas Intermediate) oil continues to rise, trading above $77.00 per barrel as of the time of writing. This increase is driven by supply issues in the Middle East. Concerns about reduced Libyan oil supplies and Iraq's plans to cut production are supporting oil prices.
The decline in the USD/CAD pair may be limited as the U.S. dollar, following stronger-than-expected economic data released on Thursday, is attempting to hold on to its recent gains. However, dovish comments from the Federal Reserve could restrain further upward movement in the dollar.
Yesterday, Raphael Bostic, President of the Federal Reserve Bank of Atlanta and known as a leading hawk within the FOMC, indicated that it may be time to consider rate cuts due to further declines in inflation and higher-than-expected unemployment. However, he suggests waiting for confirmation from the upcoming monthly employment report and the next two inflation reports before the September Fed meeting. Today, attention should be paid to the PCE (Personal Consumption Expenditures) price index, as it may provide clues about the future direction of U.S. interest rates during the North American session.
From a technical perspective, the RSI (Relative Strength Index) is gradually entering the oversold zone, which could halt the pair's decline.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
