USD/CAD showed some strength last week, as the pair gained over 100 points, closing at 1.3334. This week’s highlight in an otherwise quiet week is the GDP release. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
The greenback posted sharp gains as, Yellen surprised with a relatively hawkish speech, and the week ended on a positive note as Final GDP for Q2 posted a strong gain. In Canada, a weak Core Retail Sales report weighed on the struggling loonie.
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