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All eyes on Trump’s first press conference since July

Posted on: January 11, 2017

Fasten your seatbelts, everyone, as today is the first press conference for The Donald as President Elect. Those searching for volatility are hoping today brings a little more excitement than the last few days, as the market has felt like it is still in holiday mode. Despite the serious and also hilarious allegations circulating about his ties to Russia, one hopes that he uses the press conference to address concrete policies his administration will have.

USDCAD has been contained in a tight range over the past few sessions, as good domestic data battles declining oil prices. Later this morning we have the EIA inventory report where the market is expecting a small build, a large miss in either direction could influence direction today.

For USDCAD today, key levels continue to be the uptrend channel support, sitting around 1.3170. If this breaks the market could test 1.3100 quite quickly. I look to buy dips below 1.3200 today with stops below 1.3160, however Trump’s comments should be monitored closely for changes in direction.

Happy Trading!

  • Yesterday’s NA Range 1.3192– 1.3251
  • Asia Overnight Range 1.3225 – 1.3255
  • London Overnight Range 1.3216– 1.3254


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