CAD Weekly Forecast (Nov. 11-15)

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Canada won’t be printing top-tier reports this week! Will it translate to less volatility for the Loonie?

Here are catalysts that can move the comdoll this week:

New housing price index (Nov 14, 1:30 pm GMT)

New housing prices went up by 0.1% in August, the first increase since July 2018
CAD was boosted to new intraday highs at the report’s release
Analysts see a 0.2% gain for the month of September

Bank of Canada (BOC) Governor Stephen Poloz will speak at the San Francisco Fed
Watch out for clues that BOC will follow its neighbors and ease its policies in the next few months

Last week’s price action showed us that the comdoll is sensitive to updates about a U.S.-China trade deal. Can the U.S. remove some tariffs on Chinese products and get a “phase one” deal signed before the next round of tariffs kick in on December 15?
EIA’s crude oil inventories report (Nov 14, 4:00 pm GMT) can also extend or put a dent on CAD’s intraweek trends
China’s data dump (Nov 14, Asian session) will give clues on the impact of trade conflict with the U.S.
Powell’s testimonies on Wednesday and Thursday could yield clues on what the Fed is concerned about or is planning next. Watch for soundbites that can affect USD’s price action

Stochastic is flagging CAD as “oversold” against USD and AUD on the daily time frame

But only CAD/USD and CAD/NZD are “bullish but weakening” on the longer time frames. Watch the two pairs for bearish momentum that could lead to longer-term reversals!

Missed last week’s price action? Read CAD’s price recap for November 4 – 8!