USD / CAD Loonie Stable After Brexit Shock Oil Retreats as
The Canadian dollar plunged after Brexit the news hit the markets. Risk aversion has triggered a demand for safe havens like the USD, JPY, CHF and gold. The CAD was under pressure from the oil and the USD depreciated increased the economic impact of the British vote is still uncertain.
Canadian Prime Minister Trudeau Justin was quick to reassure Canadians about the economic outlook. The PM mentioned that Canada is well positioned to cope with the uncertainty of the global market as it has done in the past. He also thanked outgoing British PM David Cameron who will leave in October after backing the losing side of the referendum he proposes.
USD / CAD gained 1.48 percent over the past 24 hours. The pair is trading at 1.2948 after the historic outcome of the referendum in the UK in the EU. A flight to safety triggered a rapid depreciation of the Canadian dollar. The currency was close to breaking above the 1.31 level price. The three main factors affecting the CAD remain: the rate decision from the Federal Reserve, the Brexit result and the price of oil. The surprise victory Brexit triggered risk aversion and to downward pressure on energy prices, while the Fed is now likely to remain on hold for the rest of the year.
the yellow metal jumped after news of a Brexit triggered a flight to safety. Investors flocked to gold in search of a harbor protected from the uncertainty of the UK to leave the European Union. The XAU / USD gained 4,055 percent over the past 24 hours. Gold has surged nearly $ 1,350 $ 100 up every day and is now trading at $ 1314.
The next week will not provide any more guidance to investors who continue to be in shock at the unprecedented referendum result. CAD trades will focus on the US and Canadian versions of gross domestic product. While in the UK on behalf and responsible manufacturing purchasing index current add some fundamentals for the pound to trade on
CAD market events to watch this week :.
Tuesday, June 28
8:30 final GDP USD q / q
consumer confidence USD CB 10:00 am
Wednesday, June 29
10:30 USD crude oil inventories
Thursday, June 30
4:30 GBP current account
8:30 CAD GDP m / m
8:30 claims USD unemployment
CNY manufacturing PMI 9:00 p.m.
9:45 pm Caixin CNY manufacturing PMI
Friday, July 1
4:30 GBP manufacturing PMI
10: 00 USD ISM Manufacturing PMI
* All EDT
hours for a full list of events planned for the visit of the foreign exchange market the economic calendar MarketPulse
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