USD/CAD lost about 100 points, closing the week below the 1.20 level for the first time since mid-January. The pair closed the week at 1.1992. This week’s major events are Wholesale Sales, Core CPI and Core Retail Sales. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
The Canadian dollar took advantage of weak US retail sales last week. Late in the week, US consumer sentiment plunged, while Canadian Manufacturing Sales shot higher with a gain of 2.9%.
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