Data released today (Friday) shows that inflation dropped last month in the Canadian Core CPI and CPI, as shown on the graphs below.
I don't think that Canada has to worry about the BOC raising interest rates any time soon. The USD/CAD forex pair is well above parity, as shown on the Weekly chart below. With Bollinger Bands widening, we may well see prices push above near-term resistance.
Furthermore, Gold is down again today and is approaching the last wing low, as shown on the Weekly chart below. We may well see momentum generate a push much lower (through very thin volumes, as highlighted in the Volume Profile along the right side of the chart) down to around 1150, as I've written about in previous posts.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. July 6 @ 2:00 pm ET - FOMC Meeting Minutes
* Fri. July 8 @ 8:30 am ET - Employment Data
* Wed. July 13 @ 2:00 pm ET - Beige Book Report
* Wed. July 27 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Sept. 21 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Nov. 2 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Dec. 14 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.