|Day's range||1.473 - 1.475|
|52-week range||1.4453 - 1.5647|
Global aversion to the risk continues. President Trump easing his policy on the trade war with China did not help much here. Inverted yield curve is doing its job spooking the market participants.
Thursday brought us gains on two important European currencies: CHF and EUR. The first one was gaining traction from some time already but for the second one that is something new and should be rather considered as a short-term correction.
Trade wars continue but you have to admit that the volatility on the market caused by that is not extraordinary. Prices of risky assets are pretty resilient and save heaven assets are not surging as one could expect.
Having reversed from 1.3325-15 resistance, the USDCAD is declining towards 1.3210 but the ten-week old ascending support-line, at 1.3185, could confine the pair’s downside then after. Should prices continue trading southwards past-1.3185, the 1.3125 and the 1.3080 may offer intermediate halts during the pair’s slip to 1.3055. If at all the pair manage to surpass the 1.3325 upside barrier, the 1.3380 & the 1.3420 can please buyers prior to challenging them with 1.3440-45 resistance-region. Given the pair’s ability to cross the 1.3445 mark, the 1.3500 & the 1. ...
Today, in the EU markets’ focus is the ECB meeting, which often causes strong volatility. Mario Draghi is expected to confirm that the Central Bank will finally stop buying assets by the end of this year.