US Dollar Continues To Rebound

On Friday (April 11th) in New York, the US dollar rose to a higher level against the Canadian dollar (1.0982, 0.0008,0.07%). The intraday exchange rate rose from 1.0917 to 1.0981 and is now trading near 1.0957 in P.

Good US economic data boosted the exchange rate.

After three weeks of falling, the empty head reclaimed the market, which also promoted the rise of the dollar against the Canadian dollar.

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< p > investors need to pay close attention to the resistance of the upper 1.1000 integer pass, which is the location of the previous price intensive trading area, and is also an important psychological barrier. The exchange rate is likely to change in this position.

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< p > the intraday US economic data are beautiful.

Among them, University of Michigan's consumer confidence index is the highest since July, while the US PPI March rate is the biggest increase since last June.

Good US economic data improved the risk aversion of the market, making the US stock market slow down, while the US dollar rose against the Canadian dollar.

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< p > specific data show that the US consumer confidence index of University of Michigan in April was 82.6, 81 and 80.

The US PPI growth rate in March was 0.5%, with an expected growth of 0.1% and a decrease of 0.1% in the previous period.

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< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > Canadian dollar < /a > no important economic data have been released since this week.

The focus of the market is once again turning to next's announcement of the Bank of Canada's interest rate resolution and CPI data.

Recently, as the weather is getting warmer and warmer, Canada's economy is gradually recovering, and Canada's recent economic data also show good performance.

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In the minutes of the last < a href= "//www.sjfzxm.com/news/index_c.asp" > /a >, the Central Bank of Canada clearly pointed out that the direction of the next interest rate action will depend on the impact of the data. This indicates that this action may raise interest rates and also reduce interest rates. Whether the recent good economic data will change the expectations of the Central Bank of Canada before the rate cut will be announced next Wednesday (April 16th).

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< p > on the other hand, next Thursday (April 17th), the Central Bank of Canada will also release inflation figures.

At present, the market is worried about the risk of downward inflation in Canada. Inflation may be lower than expected in a long period of time, and far below 2%. If the data show that Canada is once again plunged into deflation worries, then the Canadian Central Bank's easing pressure will also increase.

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< p > technology, < a href= "//www.sjfzxm.com/news/index_c.asp" > USD > /a > 4 hour map, the price rises from low position, the whole still maintains a short trend, the key resistance above is at the 1.1000 integer pass.

Technical indicators MACD (12, 26, 9) main line and signal line has risen to near zero axis, indicating that the price trend has become balanced. Relative strength index RSI (14) has stabilized 50 above the equilibrium position, indicating that the short-term price dynamics are excessive.

Technically, there is still an upward trend in exchange rates in the short term.

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