Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
The USD/CAD pair restarted a bullish climb on Thursday, as the US Federal Reserve maintains its focus on slashing inflation rates and ignoring the possibility of triggering a recession, as expectations for a Fed pivot declined, which was evident in losses recorded by US equities.
At press time, the USD/CAD pair trades near a three-day top at 1.3733 or up by 0.86%. This comes as the Bank of Canada’s Governor Tiff Macklem noted in a press statement a few hours ago that while the Canadian economy was showing signs of slowing down, the labor market remained strong, though demand was overshadowing supply. The BoC governor explained that the bank is looking out for signs of a slowdown in inflation.
The BoC chief also acknowledged that “there is more to be done,” which could open the doors to additional rate hikes in its coming meetings. The Bank of Canada is scheduled to have its next interest rate decision on October 26.
USD/CAD at Three-Day High Ahead of NFP Data
The USD/CAD pair initially recorded a negative reaction to the BoC chair’s remarks, dropping below the 1.3700 mark but quickly regained control of market bias and printed new daily highs at 1.3744. Earlier today, Canada’s Ivey PMI index for last month increased by 55.9, unadjusted, while the seasonally adjusted figures came in at 59.5.
Meanwhile, even as the labor market flashed signs that it was beginning to feel the US Fed’s monetary policy, traders remain on the sidelines ahead of Friday’s Nonfarm Payrolls (NFPs) data.
Earlier today, the Minnesota Fed President Neil Kashkari noted that the Fed is “quite a ways away from pausing rates,” adding that the institution has “more work to do” to slash inflation to the 2% target. Meanwhile, Atlanta Fed Chair Bolstic and San Fransisco Fed Chair Daly have reiterated the need to increase rates higher and for longer.
You can purchase Lucky Block here. Buy LBLOCK
- Min Deposit
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- The Lowest Trading Costs
- 50% Welcome Bonus
- Award-winning 24 Hour Support
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus