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Message: [QUOTE="Zerologic, post: 240846, member: 126754"] [ATTACH type="full"]31229[/ATTACH] USD/CAD extends gains on Trump tariffs spotlight. Yesterday the USDCAD pair drew a bullish candle with a long shadow on the top candle indicating a strong up accompanied by strong selling pressure. Price formed a high of 1.45947, a low of 1.43925, and a close of 1.44756 on FXOpen. Rising prices have made the Bollinger bands expand, indicating increased high volatility. President Trump has reiterated his intention to impose 25% tariffs on Canada and Mexico. He said the announcement would be made for various reasons, including the fentanyl issue, which caused shares of US automakers to decline. He also stated that the first tariffs for Canada and Mexico would take effect this Saturday. He hinted at a possible decision on oil and touched on the country's wood supply. Trump's tariffs are considered to have a significant impact on trade between the US, Canada and Mexico. US GDP yesterday was lower than previously in the fourth quarter, actual data showed 2.3% lower than expectations of 2.90% from the previous revision of 3.1%. Meanwhile, US Unemployment Claims fell 207k lower than expectations of 224k and the previous revision of 223k. Today Canada will release GDP which is predicted to fall -0.1% from the previous 0.3%. Investors will also focus on US Core PCE Price Index data, which is the Fed's most preferred inflation indicator. It is estimated that PCE will rise 0.2% from the previous 0.1%. The US will also release Employment Cost Index data which is expected to rise 0.9% from the previous 0.8%. [/QUOTE]

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