The Canadian dollar flexed some muscle last week, as USD/CAD dropped almost 200 points, closing at 1.3150. There are 9 events this week, highlighted by Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. The Canadian dollar gained ground as a result.
In the US, the week ended on a sour note, as NFP report was a huge disappointment. The Canadian dollar gained ground as a result. Earlier in the week, Canadian GDP beat the forecast, which also helped the loonie improve against the greenback.
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