Weekly Overview October 6th. We have only 1 major event this week, and it is US CPI. Apart from that we have NZD interest rate decision and UK GDP, but our main focus remains US CPI.
US inflation is set to cool down to 2.3% and the previous figure was 2.5%. Given the last week push in dollar and this expectation of US inflation we decided to run with a dollar weak bias.
Will be extremely careful in executing this bias and will closely monitor the US inflation print.
But our sole focus for this week will be USD/CAD
USD/CAD shorts
Technically it looks perfect. The fundamental bias is explained above and we just need a further confirmation during the week to execute on this.
Be extremely careful with your trade management and execution because we have a lot of moving parts currently in dollar. Don’t want to get stuck on the wrong side of the data.
Please note that this is only our opinion and you shouldn’t take it as investment advice. Make your analysis and do your research on the markets before execution. Remember that your capital is at risk and it is fully your responsibility to manage your own risk.
Our opinions and biases are for educational purposes only.