It was another uneventful week for the Canadian dollar as USD/CAD was unchanged. The pair closed the week at the 1.23 line. The upcoming week has just two events, but the GDP release could have a strong effect on the movement of USD/CAD. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
In the US housing numbers were strong, and the week ended with excellent consumer sentiment data. Still, US Final GDP declined by 0.2%, matching the forecast. There were no Canadian economic releases last week.
Read the rest of the article USD/CAD Forecast June 29 – July 3