As we could recently see then the odd of a rate hike in March is at 85%. The FED is going to make a decision regarding the rate hike following the results of the two-day meeting, which is going to take place in between the 14th and 15th of March. Will Fed rise the key interest rate? Why not? But let us remind you that last Friday Janet Yellen stated that a rate hike might happen during the upcoming meeting only because the economic data regarding the employment and inflation could demonstrate positive dynamics.
Therefore, the labor market data, which will be published this Friday is going to be thoroughly assessed by the market. This is because the nonfarm payrolls may give a clue about whether real measures will be taken during the FOMC meeting to tighten the monetary policy.
As for Canadian Dollar the sales were not so successful. Yet, we should consider one more chance to sell this asset away from the level of 1.3580, at the forming of a candlestick pattern:
If fundamental state of affairs is going to force the Dollar to move up, then we should wait for a breakdown at the level of 1.3580 and potential growth up to the level of 1.4600. Although, the pairs growth does not only show Dollar’s price growth, but also a drop in the Oil price, which is already happening:
The Index S&P 500 is conquering new peaks. And, it is also moving in an ascending channel with a quite a steep incline. Should this index break the channel down possibly testing the broken side, we should expect a further development in the correction up to the level of 2200. For now, we should just wait and observe this situation:
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