USD/CAD reversed directions last week, gaining about 80 points. The pair closed the week at 1.2558. This week’s major events are Manufacturing Sales, Core CPI and Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
Canadian employment numbers were stronger than expected, which gave a small boost to the Canadian dollar. In the US, employment numbers were very positive last week. JOLTS Job Openings improved and the 4-week jobless claims was the lowest since 2000.
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