Daily News | Bearish Friday overseas

Another global trading week is drawing to a close and e have seen some great trading opportunities over the last few days. Fortunately, this Friday is no different! Join us as we analyze all the economic indicators that could influence the currency market. We start the day with the Canadian dollar. It seems that the Consumer Price Index, a number showing price movements by comparing prices of basic goods and services, will see a downturn today, in all of its variations, both Month-over-Month and Year-over-Year. Since this is the case, we surmise that the CAD will see a bearish Friday, so it would be prudent to sell the currency before this happens. Now, we turn to the U.S. dollar. The Housing Starts index, which tells us how many new single-family homes or buildings were constructed, is expected to drop today. If we add to that the fact that the Building Permits index, which shows the quantity of permits for new construction projects, is expected to also drop today, then we have to surmise that the USD will experience a bearish Friday today, as well. It’s interesting to see how this currency has experienced a change after such a long positive run. Could this be the start of a negative trend?

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Author: Max Rothstein

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