Two Surprises Last Night in AUD/USD and USD/CAD
Skerdian Meta • 1 min read
Yesterday, we presented three live forex signals around midday. Two of them closed, while the EUR/GBP signal remains open. Both of these signals had been affected by fundamental events, and closed without warning. The AUD/USD signal closed in profit, while the USD/CAD hit stop loss- the fundamentals provided both a negative and a positive surprise for us!
Rumors began circulating on Saturday that Trump will likely pull the US out of the NAFTA (North American Trade Agreement). Although there’s no knowing whether or not the rumors are true, Canada and Mexico already seem to be convinced. One thing is for sure; Donald Trump loves to rip papers off- he’s been breaking trade deals left and right.
The Canadian Dollar and the Mexican Peso felt the heat, losing approximately 100 pips late in the evening. USD/CAD, however, jumped 100 pips higher, which smoked our forex signal for this pair.
Things are looking up for the Aussie, as it got a boost last night from the Australian Retail Sales Report. The sales in Australia were expected to grow at 0.4%, while the actual number showed a 1.2% jump in retail sales for the month.
It’s surprising that this is the data from November- seeing how much sales are jumping, you would think it was December (the holiday period.) This jump, however, is not a gift from Santa, but rather a result of the Australian economy. We received our pips from this pair, meaning that yesterday was a neutral day for us.