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Foreign exchange fundamentals of the country profile 6-Canada

2023/2/24 21:50:30  Classification:   Participation: 9  

Canada…… cashback forexncle bestforexrebateams best friend, beautiful environment, heavily rebateinforextradingfluenced by France, half of the region rebatesinforex frozen area here to create some of the worlds most surprising things, such as basketball, baseball, maple syrup best forex rebate smart beans Canada occupies most of North America, stretching from the Atlantic Ocean to the Pacific Ocean it has 10 provinces and 3 territories It has 10 provinces and 3 territories and is one of the most developed countries in the world in terms of land area, ranking second in the world behind Russia! Considering its size and its contribution to the world, you can imagine how important Canada and its currency, the rebatemeaninginforex dollar, are in the world of foreign exchange Canada: Facts, figures and characteristics Neighboring countries: United States Area: 3,855,101 square miles Population: 33,476,688 Population density: 8.3 people per square mile Capital: Ottawa Head of state: Queen Elizabeth II, by Governor General Johnston (DavidLloydJohnson) for Prime Minister: Stephen Harper Currency: Canadian dollar (CAD) Major imports: machinery and equipment, motor vehicles and accessories, electronic equipment, crude oil, chemicals, electricity, consumer durables Major exports: motor vehicles and accessories, industrial machinery, aircraft, communications equipment, electronic equipment, chemicals, plastics fertilizer, wood pulp, lumber, crude oil, natural gas, electricity, aluminum, Nash (SteveNash), Crosby (SidneyCrosby) import partners: U.S. 50.4%, China 11%, Mexico 5.5% export partners: U.S. 72.3%, Japan 2.5% time zone: West 8, West 7, West 6, West 5, West 4, website: http: //www.canada.gc.ca/home.html, which means that its economic growth is mainly through the use and export of its natural resources According to the International Monetary Fund (IMF) data, Canadas economy ranks tenth in the world, which makes it one of the G8 member countries It is also the worlds seventh largest gold producer and Despite strong industrial and manufacturing sectors, Canadas GDP is largely derived from its service sectorThree-quarters of Canadas workforce is employed in its advanced service sector, which generates 70% of the countrys GDP each yearThe next time you see a Canadian, go up to him and make a bet that he works in the service sector, and in most cases you will winThe Canadian economy really started to work well in January 1989, when the Free Trade Area Agreement came into force. When the Free Trade Area Agreement came into effect, it removed all tariffs between the United States and Canada. In fact, Canada exports more than 70% of its goods to the United States. There is no fixed time for adjusting its policy The Management Board meets daily and can decide to change monetary policy at any time The Bank of Canadas directives are similar to those of other central banks, as they aim to ensure price stability in the Canadian dollar and that the countrys inflation rate is within 1% to 3% The Bank of Canada achieves its goals through open market operations and constant adjustments to the Banks interest rate The Bank of Canada implements its open market operations policy by The LVTS allows commercial banks across Canada to lend to each other to complete their daily operations at a rate known as the bank discount rate. Therefore, the Bank of Canada decides to raise the bank discount rate to 2.50%. With a higher bank discount rate, the interest to be paid back to lenders will increase, and with a lower bank discount rate, businesses and consumers will increase the amount of loans. No clear-headed company would raise prices when no one wants to spend, would they? Knowing the Canadian dollar you may wonder why the Canadian dollars alias is the name of Canadas national bird, the Loonie…… thats because of the Loonie engraved on the Canadian dollar coin Lets understand the properties of the Loonie: black cocaine and I Historically, the price of black cocaine has been highly correlated with the movement of the USD/CAD Usually when oil prices rise, the Canadian dollar rises with them If oil prices are expected to increase over the next few years If oil prices are expected to increase over the next few years, then youll want to go sell all of USD/CAD quickly My work hours are short…… USD/CAD movement stays narrow for the vast majority of the day Only during the American breakfast time when it overlaps with the European trading session and the U.S. trading session is the pair more active…… Unlike my best Unlike my best foreign friend the U.S. dollar…… the key factor to keep in mind when trading USD/CAD is that the direction of its movement is closely tied to changes in the state of the U.S. economy Remember, in addition to being neighbors, the U.S. and Canada trade in huge volumes with each other The U.S. economy is booming, and so is the Canadian economy So when you plan to trade the Canadian dollar, take some time to look at the state of the U.S. economy How…… but I am still active in the U.S. trading session The Canadian dollar does not move significantly until the start of the U.S. trading session The Canadian dollar moves very little in the Asian trading session and in the European trading session Important economic indicators related to the movement of the Canadian dollar Consumer Price Index (CPI): Like other central banks, the Bank of Canadas goal is to control inflation due to The CPI tracks price changes in goods and services, so this data is closely watched by currency traders Gross Domestic Product (GDP): GDP is a measure of Canadas overall economic performance and reflects whether the economy is growing Trade Balance: Like other commodity-based countries, Canadas economy is vulnerable to import and export activity Ivey Purchasing Managers Index (PMI) The PMI is a survey of whether companies expectations for the economy are optimistic or pessimistic. A reading above the 50.0 baseline means that business conditions are improving, and vice versa. U.S. economic data U.S. economic data is released at a similar time to Canadian economic data Negative data in the U.S. report and positive data in the Canadian report will cause the price of USD/CAD to fall sharply Conversely positive data in the U.S. report and negative data in the Canadian report will cause the price of USD/CAD to rise sharply Mergers and Acquisitions Due to the proximity of the U.S. and Canada, mergers and acquisitions between companies are very frequent which For example, in order for a U.S. company to acquire a Canadian company, it must first convert U.S. dollars into Canadian dollars to complete the transaction. Think about the amount of money that would have to flow through the foreign exchange market to complete the transaction. The value of each point is measured in Canadian dollars, and the gain and loss is calculated as one point (0.0001) at the current price of USD/CAD. This means that if the USD/CAD moves through a support level during the European trading session, in most cases it will only be a false break. Looking at the differences between US and Canadian economic data is also an important step in determining the direction of movement in USD/CAD because the difference between US and Canadian data, which are released only a few hours or minutes apart, will increase the degree of movement in one direction or the other, for example, negative US data and positive Canadian data would be a good reason to sell USD/CAD. Finally, in addition to paying attention to economic data, spending a little time studying oil price movements will also help the Canadian dollar trade because Canada is one of the worlds leading oil producers and oil price movements have a significant impact on the value of the Canadian dollar. If you notice that the price of gasoline has increased where you are, you will be more certain that you can sell short USD/CAD

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