Daily Analysis: 26 Feb 2019

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CAD

Fundamental Analysis

(26th Feb): The loonie was trading higher on the news that the trade war between the US and China is on the verge of an agreement, but it was Trump’s tweets later in the day that had the currency lower. The Canadian dollar fell 0.41 percent pulled down by oil prices that depreciated after President Trump’s tweet.

Oil sinks more than 3 percent after Trump tells OPEC prices are too high. Our technical analysis shows that USOIl is bouncing back from the 54.96 support line, which could help CAD.

 

(25th Feb): Risk appetite remains high, as the markets remain optimistic that the U.S. and China will reach a trade deal. Months of bruising tit-for-tat tariffs have hurt global growth and led to a slowdown in China. The sides have agreed to extend talks, and Trump said that the U.S. will suspend the March 1 deadline, when punishing tariffs against China were supposed to take effect.

Canadian retail sales reports were soft, but the Canadian dollar managed to shrug off the weak numbers. Retail sales slipped 0.5%, while core retail sales fell 0.1%. Both indicators have posted two consecutive declines, pointing to a slowdown in consumer spending.

 

 

 

Technical Analysis

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USD

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Fundamental Analysis

(26th Feb):  The dollar index is expected to end the negative slide as market is turning more risk-off.  However, this slightly bullish trend can still be changed depending on what Fed’s Powell says during his … [/blur][/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column][vc_empty_space height=”35px”][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=””][vc_column_inner width=”1/5″][/vc_column_inner][vc_column_inner width=”3/5″][vc_separator type=”normal” color=”#b70909″ border_style=””][/vc_column_inner][vc_column_inner width=”1/5″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”35px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” background_animation=”none” css_animation=””][vc_column width=”1/5″][/vc_column][vc_column width=”3/5″][kswr_heading head_align=”center” head_subtitle_color=”#333333″ head_title=”ACCESS RESTRICTED” head_title_fsize=”font-size:23px;line-height:2;” head_title_fstyle=”font-family:Inherit;font-weight:700;” head_subtitle_fsize=”font-size:17px;line-height:1.5;” head_subtitle_fstyle=”font-family:Inherit;font-weight:inherit;” head_title_margins=”margin-top:0px;margin-bottom:0px;” head_subtitle_margins=”margin-top:0px;margin-bottom:0px;”]Our comprehensive daily reports covers both technical and fundamental analysis, and are customised to your requirements.

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