The uptrend continues and that's a very predictable thing , since the monetary policy of Canada and Japan has never been so contrasting, but it's not just that, but of course oil, whose prices have a good potential for growth. Yes, now oil prices are testing the $100 mark, amid fears of a recession, but all predictions indicate that this will pass quickly given mounting pressure to block Russian oil imports and the uncertainty surrounding US efforts to artificially cap oil prices. In general, the timing is just not right, but starting in September, the need for energy resources will rise and a shortage will develop.The strategic reserves of the United States will also run out, from which a significant amount of “correct”, non-sanctioned American oil is coming to the market today. Last year, in the summer, nobody predicted gas prices of $ 2,000. The same thing could happen again, a year later, but the prices could be significantly higher.
The most inflation has been reported in Canada in the last 39 years. Retail sales ended up exceeding expectations, so in general, the week turned out to be very favorable for Canada, and investors had every reason to expect new increases in the rate. In Japan, the opposite situation and the decision of the Bank of Japan to once again keep the lowest 0.1% rate disappoints investors. The yen has dropped to its lowest price in 24 years, despite being considered a safe asset.
In the current situation, we are buying CAD today, considering this currency the most promising and profitable for us. Most technical analysis tools also indicate the effectiveness of the deals to BUY.
