The main event of the week will be the US Federal Reserve System representatives meeting. It is expected that the FRS will announce the end of the third program of bond purchases. The Economic calendar also contains the data in the consumer sector, house price data and economic growth during the summer in the USA. The experts of Masterforex-V World Academy /www.masterforex-v.com/ learned five basic economic data and news that can boost or weaken the dollar.
 

USD/CADT echnical Background

This Forex pair is a challenging one to analyse technically. Although as is typical with USD pairs, it does not tend to slip and slide, it is prone to unpredictable pullbacks and bounces. The CAD is unusual amongst major currencies in that it is so overwhelmingly linked to a single foreign currency (the USD), as well as being strongly correlated to the price of crude oil.
 

On the 17th of October, the depreciation of the dollar before the start of the European session was 0.11%. Strong depreciation of the dollar against other major currencies happened yesterday at the beginning of the North American session after too weak statistical data in the USA. Retail sales came in worse than expected values, the manufacturing index fell in New York, and producer’s prices are reduced.

The most popular currency pair trades on the American market on Friday, on the 12th of September, 2014, continues to trade within a horizontal price range 1.2858-1.2962 formed on Tuesday.
Positive statistics for the euro area, that entered the first half of the day, did not contribute to the strengthening of the euro against the dollar.
 

Dollar's rate on Friday stopped active growth versus a basket of six currencies. Bidding on the dollar’s index on Friday ended with reduction by 0.4% at 83.97.