- Wholesale Sales MoM: Canadian wholesale trade numbers are to be released today. The forecast of this number to remain at 0.9%, it has evidenced -0.4% in the previous period.
- No happening news from Poloz’s lackluster speech: Hints growth in Q2 most likely.Other high impact data releases this week (Friday):
- Retail Sales MoM: Previously printed at 1.7% while the forecast is to remain at 0.5%.
- CPI MoM: Previously at 0.7%, forecasts to be at 0.1%.
Technical & Option mirror: (EUR/CAD)EURCAD trading near short term downward trend line at around 1.3565, if this manages to breach this level on a closing basis then it is deemed as further declines are pretty much certain as other oscillating indicator stochastic confirms a clear over bought situation (%D line crossover exactly above 80 levels). RSI (14) is also moving in downward convergence with price line.Writing covered puts is a bearish options trading strategy involving the writing of put options while shorting the compelled exchange rate of the underlying currency on spot.This strategy offers limited returns with no downside risks, Profit for the covered put option strategy is limited and maximum gain is equal to the premium received for the writing put option.
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