AUDCAD Analysis
AUDCAD hits the higher low area of the uptrend line in the 1-hour timeframe chart.
After the confirmation of uptrend movement, AUDCAD buy signal given.
AUDCAD reached the take profit target successfully.
Australian Dollar: 10yr Australian Bonds spread widens
Australian Dollar gains as Australian 10-year bond yields rise over 1.9% and Government bond spread widened to 30 basis points Favours for Australian Dollar.
And Russian President Putin said more gas supplies to Europe until demand satisfied.
RBA monetary policy setting is scheduled for next week; if any tapering happens, the Australian Dollar will pressure upward.
Canadian Dollar: Bank of Canada left interest rates unchanged
Crude oil prices slipped lower as yesterday more supplies readings from WTI in US Oil market.
EU and Iran planned for Oil transactions in the next month due to more Oil demand in Eurozone.
And the US Have to remove sanctions from Iran, which were imposed in Trump’s period; now, Biden maybe supports for Global demand to release Iran sanctions.
If approved by the US, then Oil market once again meets in the normal range from a higher high level.
And Yesterday, the Bank of Canada left interest rates unchanged, and no tapering was done.
Canadian Dollar met a higher high before the news was released, but it stayed calm in the market after the announcement.
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