{"id":105922,"date":"2020-10-17T00:26:38","date_gmt":"2020-10-16T23:26:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105922"},"modified":"2020-10-18T23:39:44","modified_gmt":"2020-10-18T22:39:44","slug":"104573-usd-cad-rebound-continues-following-bullish-signal","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104573-usd-cad-rebound-continues-following-bullish-signal\/","title":{"rendered":"USD\/CAD Rebound Continues Following Bullish Signal"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">USD\/CAD continues to rebound from the monthly low (1.3099) after forming a bullish outside day (engulfing) candle pattern earlier this week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">USD\/CAD could drive higher as the Relative Strength Index (RSI) breaks out of a downward trend.<\/span><\/p>\n<p><b>USD\/CAD CONTINUES REBOUND FOLLOWING BULLISH SIGNAL<\/b><\/p>\n<p><span style=\"font-weight: 400;\">USD\/CAD could be set to test the monthly high (1.3341) as the US Dollar rises on declining risk appetite. The US Dollar could well carry on reflecting an inverse relationship with market confidence as the Fed depends on its emergency tools to cushion the US economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Federal Reserve could continue to keep\u00a0 monetary policy steady as San Francisco Fed President <\/span><b><i>Mary Daly<\/i><\/b><span style=\"font-weight: 400;\">, insists that \u201cpolicy is in a good place right now,\u201d she added \u201cthe Fed is fully committed to using every tool in its tool kit\u201d in a speech at an event hosted by the Wall Street Journal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Richmond Fed President <\/span><b><i>Thomas Barkin<\/i><\/b><span style=\"font-weight: 400;\">, states that \u201cthe Fed will aim to keep rates low until we see moderate overshoots of inflation\u201d suggesting the Fed will continue to endorse a dovish forward guidance as the central bank plans to \u201cachieve inflation that averages 2 percent over time.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, the Fed is in no hurry to use unconventional tools as Cleveland Fed President <\/span><b><i>Loretta Mester<\/i><\/b><span style=\"font-weight: 400;\">, states that the committee could \u201cshift to longer-term Treasuries, as we did during the Great Recession,\u201d and the wait-and-see approach may keep key market trends in place as the central bank prepares a \u201cmore explicit outcome-based forward guidance.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US Dollar could keep reflecting its reverse risk relationship until the interest rate decision on November 5.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD continues to rebound from the monthly low (1.3099) after forming a bullish outside day (engulfing) candle pattern earlier this week. USD\/CAD could drive higher as the Relative Strength Index (RSI) breaks out of a downward trend. USD\/CAD CONTINUES REBOUND FOLLOWING BULLISH SIGNAL USD\/CAD could be set to test the monthly high (1.3341) as the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82480,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1680,1398,1869],"class_list":{"0":"post-105922","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd","9":"tag-cad","10":"tag-usd","11":"tag-usd-cad"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CAD Rebound Continues Following Bullish Signal - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104573-usd-cad-rebound-continues-following-bullish-signal\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104573-usd-cad-rebound-continues-following-bullish-signal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104573-usd-cad-rebound-continues-following-bullish-signal\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/CAD Rebound Continues Following Bullish Signal\",\"datePublished\":\"2020-10-16T23:26:38+00:00\",\"dateModified\":\"2020-10-18T22:39:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104573-usd-cad-rebound-continues-following-bullish-signal\\\/\"},\"wordCount\":271,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104573-usd-cad-rebound-continues-following-bullish-signal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-cad-exchange-forex.jpg\",\"keywords\":[\"cad\",\"usd\",\"usd\\\/cad\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104573-usd-cad-rebound-continues-following-bullish-signal\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104573-usd-cad-rebound-continues-following-bullish-signal\\\/\",\"name\":\"USD\\\/CAD Rebound Continues Following Bullish Signal - 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