FREE RAPID SIGNAL BUY NOW USD/CAD We further increase o | Focal Community Group (FXSignals)

FREE RAPID SIGNAL
BUY NOW USD/CAD

We further increase our LONG position in the USD and trade the world's largest currency against the Loonie. Concerns about existing vaccines being weak against Omicron increased expectations that many countries may still impose tougher (travel) restrictions or require a third shot, meaning that two shots will not be considered "fully" vaccinated anymore. The University of California says that efficacy against symptomatic infection from Omicron after two shots (with Pfizer/BioNTech or Moderna) is only about 30% down from 87% versus Delta. Protection against severe disease is now at approximately 67% (from 86% versus Delta). However, a booster shot increases protection against severe disease from Omicron to approximately 91%. Still fears are rising that the rising supply of oil outpaces demand in the short term (long-term I see oil clearly bullish). The CAD faces headwinds from a rising USD and weakness in oil prices. We use the short-term rebound in oil to position us SHORT in the CAD.