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BoC: Overall business outlook down to -0.6 in Q1 from 2.2

The Bank of Canada's quarterly Business Outlook Survey showed that the Business Outlook component dropped to -0.6% in the first quarter from 2.2. The publication further revealed that the Senior Officer Loan Survey improved to -2.7 from -16 and Future Sales rose to 6 from -1. The initial market reaction weighed on the CAD and the USD/CAD pair surged to 1.3370, where it was up 0.37% on the day.

Key takeaways from the press release

 

EUR/USD Technical Analysis: Once again loses momentum near 1.1320 confluence barrier

• The pair failed to capitalize on its early uptick and once again started losing steam from the 1.1320 region, marking 50% Fibonacci retracement lev
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GBP/USD Technical Analysis: No man’s land below 1.3120 resistance

GBP/USD daily chart GBP/USD is consolidating above the 200-day simple moving average (SMA). GBP/USD 4-hour chart GBP/USD is stuck between the 50 and 1
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