The Canadian dollar lost about 270 points, as USD/CAD pushed past the 1.30 line for the first time since March 2009. The pair closed at 1.270. This week’s highlights are Wholesale Sales and Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
The loonie took a big hit as the BOC surprised the markets and lowered the rates by a quarter-point to 0.50%. In the US, retail sales was dismal and consumer sentiment fell short, but this had little impact on the spectacular US dollar rally.
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