The Loonie heads lower as Vancouver housing bubble deflates

The Loonie heads lower as Vancouver housing bubble deflates

By: Simon Furman | Where To Trade | On:Wednesday, 21 December 2016
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    Where to Trade- The US home construction starts and permits missed consensus. As a result, the American dollar is under pressure.

  The Loonie heads lower as Vancouver housing bubble deflates. The CAD/USD pair closed at  1.3367 in the previous trading session.

  The Federal Reserve releases its latest signal on interest rates, so the S&P 500 might depreciate. The S&P 500 previously closed at 2,270.76 in the last session.

  High volatility is expected in the NZD/USD pair as the New Zealand's GDP is at 21:45 GMT. The pair closed at 0.6916 in the previous session.

  Medium impact on the EUR/USD pair as the US Existing Home Sales are at 15:00 GMT. The EUR/USD pair closed at 1.0389 in the last trading session.

  The Japanese Yen migh be under pressure as speculative accounts turn bearish. Little impact is expected on the USD/JPY pair as the Japanese All industries Activity is due at 04:30 GMT. The pair had a previous close of 117.85.

Video Summary: 

  • United States of America:  The US home construction starts and permits missed consensus
  • Japan: The Japanese Yen might be under pressure as speculative accounts turn bearish
  • Canada: The Loonie heads lower as Vancouver housing bubble deflates.

 

Simon Furman

Simon Furman

Think Global - Act Local

Simon Furman is one of the best financial analyst with 27 years of trading experience

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