The Canadian dollar showed some movement in both directions last week, but finished the week unchanged, as USD/CAD closed at 1.3362. This week’s highlights are GDP and Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
In the US, Unemployment Claims dropped sharply, but housing and consumer data missed expectations. Still, the US economy is doing fine, so a rate hike in December is more likely than not. In Canada, manufacturing inflation matched expectations.
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