USD/CAD Analysis: Early August 2024
USD/CAD pair ne Thursday ke early Asian session mein thoda sa decline kiya aur 1.3755 ke aas-paas trade kiya. Yeh decline kai market dynamics ko reflect karta hai. Pehli baat, Bank of Canada (BoC) ne is baat par concerns zahir kiye ke consumer spending 2025 aur 2026 mein significant decline dekh sakti hai, jo ke potential economic headwinds ka indication hai. Is ke ilawa, BoC ne labor market pressures aur working-age population mein slow job creation ko bhi note kiya, jo mixed economic outlook ko underscore karta hai.
Investors weekly US Initial Jobless Claims report ko closely monitor kar rahe hain taake US employment market ke indications mil sakein. Jobless claims mein izafa labor market ke kamzor hone ka signal ho sakta hai, jo USD strength ko impact kar sakta hai. Federal Reserve ke further interest rate actions ki bhi ahem role hai. Market mein more aggressive rate cuts ki ummeed hai, jo near term mein US dollar ke upside ko cap kar sakti hai.
Geopolitical tensions, khaaskar Middle East mein, aur US crude oil inventories ke girne ke bawajood oil prices mein izafa hua hai. Canada ek significant oil exporter hai, is liye higher oil prices aam taur par Canadian dollar ko support dete hain, jo USD/CAD pair ke softer note ko contribute karta hai. Lekin, Canadian economic landscape abhi bhi uncertain hai, aur upcoming employment data se unemployment ke thoda sa rise hone ki expectation hai, jo 6.4% se 6.5% tak ho sakta hai.
USD/CAD exchange rate domestic economic concerns, geopolitical factors, aur US interest rates ke market expectations se influence hota hai. Traders ko in variables ko closely monitor karna chahiye jab woh forex market navigate karte hain. H4 chart par, USD/CAD currency pair correction phase mein hai. Price ne double bottom aur SMA-100 ko break kiya hai. Jab price SMA-100 ke upar bounce back karti hai, toh yeh hint karega ke correction phase khatam ho gaya hai aur buy entry ke liye dekhna chahiye.
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