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  • Fedex Q1 Results: Revenues: $22.0B vs. $21.8B est. EPS $4.37 vs. $4.92 est. $FDX down roughly 2.25% AH
  • In this week's Macro Setup @CVecchioFX, discusses with @RiskReversal and @GuyAdami, news regarding property developer Evergrande weighing down US financial markets, and September's Fed meeting impact on assets. Tune into the markets now!https://t.co/dBgjbpXLXL https://t.co/WXLoq1O1PL
  • Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. Get your $XAG market update from @CVecchioFX here:https://t.co/23ii112k1E https://t.co/xHZfC2sffQ
  • China to be carbon-neutral by 2060; country will stop building coal-powered projects abroad - BBG
  • Curious to know if this is because a) bailout by Beijing is still widely viewed as the base case scenario if contagion materializes and/or b) recent backstops implemented globally to curb financial market fallout have effectively supplanted left tail risk https://t.co/cFSXtb1WfQ
  • video uploaded from today's webinar https://t.co/CCrY3mYRjL
  • WTI crude rebounded nicely from session lows, now trading at $70.50 $CL #Oil #OOTT https://t.co/ik3wfuGZZe
  • RT @ZabelinDimitri: Regarding the Fed dot plot⬇️ "If another two officials were to move up their expectations for a rate increase into 2022…
  • Tonight will see Chinese markets open after a two day closure to observe mid-Autumn festival. Naturally, there will be increased focus and volatility given the current backdrop of Evergrande default concerns. Get your market update from @JMcQueenFX here:https://t.co/ky6vpyMup7 https://t.co/7TyDu8rl14
  • RT @RiskReversal: A pretty hot @MacroSetup this week, brought to you by @Nadex and @openexc. @GuyAdami & I warn the young, but mighty @CVec…
USD/CAD Classical Technical Report 06.11

USD/CAD Classical Technical Report 06.11

Joel Kruger, Technical Strategist
daily_classical_loonie_body_usd.png, USD/CAD Classical Technical Report 06.11

USD/CAD: Our core bullish outlook for this market has been more than reaffirmed over the past couple of weeks, with the market accelerating back above parity and towards 1.0500 thus far. While we continue to project significant upside over the medium-term, risks over the short-term appear to be tilted to the downside so that the market can correct from overbought readings on the daily chart. However, any setbacks should now be very well supported ahead of parity and in the 1.0100 area.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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