Major equity benchmarks posted mixed results on Thursday as profit taking pressures inevitably resurfaced following the stellar run-up seen earlier this week. Mixed economic data releases on the day only added to the bull’s sense of urgency to lock-in profits ahead of the weekend; housing starts and weekly jobless claims came in worse-than-expected while inflation worries subsided after U.S. CPI dropped down to 1.7% from 1.9% previously [see also The Cheapest ETF For Every Investment Objective]. Our ETF to watch for the day is the CurrencyShares Canadian Dollar Trust , which could swing in either direction at the opening bell as investors react to the latest Canada CPI release. Analysts are expecting for inflation to come in at 1.2%, which would mark a modest decline from the previous reading of 1.4%. Chart Analysis Consider FXC’s one-year daily performance chart below. The Canadian dollar has dragged along sideways with a downward bias thus far on the year, failing [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Hedge Your Bullish Bets This Week How Volatile Is Your Currency ETF? The Ultimate Guide To Currency ETF Trading Country vs. Basket: Which Currency ETF Strategy Is Right For You? CurrencyShares Singapore Dollar Trust (FXSG) Rolls Out
Major equity benchmarks posted mixed results on Thursday as profit taking pressures inevitably resurfaced following the stellar run-up seen earlier this week. Mixed economic data releases on the day only added to the bull’s sense of urgency to lock-in profits ahead of the weekend; housing starts and weekly jobless claims came in worse-than-expected while inflation worries subsided after U.S. CPI dropped down to 1.7% from 1.9% previously [see also The Cheapest ETF For Every Investment Objective]. Our ETF to watch for the day is the CurrencyShares Canadian Dollar Trust , which could swing in either direction at the opening bell as investors react to the latest Canada CPI release. Analysts are expecting for inflation to come in at 1.2%, which would mark a modest decline from the previous reading of 1.4%. Chart Analysis Consider FXC’s one-year daily performance chart below. The Canadian dollar has dragged along sideways with a downward bias thus far on the year, failing [...]
Click here to read the original article on ETFdb.com.
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