Morning Insights 24th November

Simon Alagbe


Instrument: USDCAD

The greenback has benefitted immensely from the expectations that the Fed would adopt a more aggressive policy response to control the high inflationary pressures in the United States. The pair has retraced strongly from Tuesday high ahead of the economic data to be released from the United States today. I expect the Loonie to regain some lost ground in today's session as the recent rebound in crude prices lends support. 


The dollar index is currently trading around a key resistance zone and close to the yearly high, which could be pivotal for all dollar pairs. I expect the pair to trade southward today with a take profit at 1.26325 and stop-loss at 1.26945


Prelim GDP q/q (US) 2:30 PM

Core Durable Goods Orders m/m (US) 2:30 PM

Durable Goods Orders m/m (US) 2:30 PM

Unemployment Claims (US) 2:30 PM

Core PCE Price Index m/m (US) 4:00 PM

Revised UoM Consumer Sentiment (US) 4:00 PM

FOMC Meeting Minutes (US) 8:00 PM

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