The Canadian dollar repeated with an excellent week, posting gains of more than 200 points. USD/CAD closed at 1.2942, its lowest level since July. This week’s highlight is Manufacturing Sales. 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.
The Canadian dollar received a boost from a better than expected Canadian employment numbers and higher oil prices. In the US, the dovish Fed minutes sent the greenback broadly lower and the loonie took full advantage.
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