The Canadian dollar was almost unchanged last week, as USD/CAD closed the week at 1.3319. The upcoming week has seven events on the schedule, including retail sales and inflation levels. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.
There were no major releases out of Canada last week, and the Canadian dollar had a quiet week. In the US, numbers were mixed. PPI and Retail Sales missed estimates, but UoM Consumer Sentiment beat the forecast. Earlier in the week, US jobless claims repeated at 276 thousand, coming in above the forecast for a second straight week. The Fed is leaning towards a hike, but is not yet fully committed to the move.
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