The Canadian dollar sagged badly last week, as USD/CAD shot up about 200 points. The pair closed the week at 1.2560. This week’s highlight is Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
The US gained 223K jobs in June, slightly below expectations. The unemployment rate dropped more than expected but wages disappointed. In Canada, GDP disappointed with a decline, its third decline in four readings.
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