The Canadian dollar had a quiet week, posting slight losses. USD/CAD closed the week at 1.2167. This week’s major highlight is GDP. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
In the US, there was some good news on the housing front, with existing home sales beating expectations. However, New Home Sales failed to keep pace and Durable Goods Orders were a mixed bag. In Canada, Wholesale Sales disappointed with a second straight decline.
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