Forex Signals Brief for Jan 22: BOC in Focus

Today’s Agenda

Data remains quite thin at the moment and most of the headlines today have been from China on the coronavirus outbreak.

While this is no means a flight to safety, we are seeing some of the currencies like the USD gain some buying interest. As yet the source or nature of the virus are unclear, so we will have to wait and see as more cases are being reported.

Today the main focus will be on the USD/CAD, with the BOC set to meet. There is no expectation that we will see a change from the current 1.75%, but the press conference will be worth watching.

Elsewhere we do also get a look at CPI from Canada so that will be a key trade for today. 

Forex Signal Update

The FX Leaders Team finished with 2 wins from 5 signals over the last 24 hours.

EUR/CHF – Active Signal

The EUR/CHF is still consolidating and has not done all that much in the last few sessions. This is a sign that a move will come so we are still hopeful of a bounce here.

Cryptocurrency Update

BTC remains under the $9,000 resistance level for now and that is really our key focus for the coming days.

Bitcoin remains relatively quiet, but the fact price hasn’t fallen away is worth paying attention to.

I fully expect another test of $9,000 before we can really make an assessment to its next move.