USD/CAD weekly special report based on 1 Lot Calculation:
GEOPOLITICS:
- TRADE WAR: President Trump has declared that the USA will impose 25% tariffs on Canada and Mexico. Furthermore, the USA President has not yet decided whether or not to introduce tariffs on Canadian oil imports. The final decision will fall on February 1st. The implementation on tariffs towards Canada will be supportive for the USD/CAD currency pair.
EVENTS:
- WEDNESDAY, FEBRUARY 05, AT 13:15 GMT: U.S. ADP NONFARM EMPLOYMENT CHANGE: A higher than expected reading should be taken as positive for the USDCAD pair. This is a measure of the monthly change in non-farm, private employement.
- THURSDAY, FEBRUARY 06, AT 13:30 GMT: U.S. INITIAL JOBLESS CLAIMS: A number lower than expected could point to the FED delaying interest rate cuts which is always supportive for the USDCAD pair. Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week.
- FRIDAY, FEBRUARY 07, AT 13:30 GMT: U.S. NONFARM PAYROLL (NFP): A number higher than expected could encourage the FED to delay interest rate cuts, which is supportive for USDCAD. Nonfarm payroll measures the change in the number of people employed during the previous month. The forecast stands at 150K.
- FRIDAY, FEBRUARY 07, AT 13:30 GMT: CANADIAN FULL EMPLOYMENT CHANGE (JANUARY): A lower than expected number should be negative for the Canadian dollar and positive for the USDCAD pair. This data measures the change in employment of full-time employees.
USD/CAD January 31, 2025
Current Price: 1.4520
|
USD/CAD |
Weekly |
|
Trend direction |
|
|
1.4850 |
|
|
1.4750 |
|
|
1.4660 |
|
|
1.4400 |
|
|
1.4350 |
|
|
1.4300 |
Example of calculation based on weekly trend direction for 1 Lot1
|
USD/CAD |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
2,295 |
1,599 |
973 |
-834 |
-1,182 |
-1,530 |
|
Profit or loss in €2 |
2,212 |
1,542 |
939 |
-804 |
-1,140 |
-1,475 |
|
Profit or loss in £2 |
1,851 |
1,290 |
785 |
-673 |
-954 |
-1,234 |
|
Profit or loss in C$2 |
3,300 |
2,300 |
1,400 |
-1,200 |
-1,700 |
-2,200 |
1. 1.00 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 14:05 (GMT) 31/01/2025
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.