The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Canada's GDP fell by 1.6% quarter-on-quarter in Q2, which was significantly worse than forecasts. Preliminary data for July show a growth of 0.1%, suggesting that weak dynamics will persist going forward.
At the same time, the details of the report are far from straightforward. Exports fell sharply by 27%, which is a direct consequence of new tariffs. Imports decreased by 5.1%. However, it is essential to note a significant increase in consumer spending by 4.5% year-on-year. Domestic demand is strong, and the negative overall dynamics are primarily determined by external trade.
Strong demand was supported mainly because businesses built up large inventories in Q1 due to tariff uncertainty, so even a noticeable drop in imports did not impact demand volumes. Industrial performance is weak: productivity fell by 1.0%, and output declined for the first time in seven months.
The Bank of Canada cut rates rather aggressively, bringing them down to 2.75%. Will they continue to cut? For now, there is no clarity; more information will become available on Friday, when Canadian and US labor market data is released. In any case, the latest data suggests the Canadian dollar has no real grounds for strengthening. The publication of these labor reports is not only the key event of the week, but, in fact, the market will form its expectations for the Bank of Canada and Fed meetings on September 17.
The net long position in CAD increased by $877 million over the reporting week to -$7.59 billion; speculative positioning remains steadily bearish, and the calculated price is above the long-term average and showing an upward trend.
USD/CAD is trading in an upward channel after a fairly steep decline in the first half of the year; we expect it to remain within this channel for the coming week. The short-term momentum is bullish, and we expect movement toward the upper boundary of the channel, where there is a strong resistance zone at 1.3980/4020.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
