Is USD/CAD set for rebound?

17 Nov

USD/CAD edged to new highs once again, as the greenback gained across the board. Retail sales and inflation data are the major events this week. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.

Mid East violence is strengthening the US dollar more than the rise of oil prices helps the loonie. Canadian manufacturing sales increased 0.4% in September following 0.9% growth in August in light of sharp rise in aerospace product and parts, but sales plunged in the auto industry. Analysts expected a lower climb of 0.3%. The relatively weak reading reflects the slowdown in global economy. However this growth will be accounted for in the last GDP report.

Read the rest of the article USD/CAD Outlook November 19-23 . . . here.

 

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