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USD/CAD – Technical Analysis Forecast
The Canadian Dollar opened 2024 with a decline against the US Dollar, the Forex pair USD/CAD rose from 1.3180 in late December 2023 to its current average price of 1.3380 and has been trading near this level for a few days. The pair held steady throughout the US CPI data release as well as the recent upside move in oil prices. Next week, markets are looking forward to December’s 2023 CPI data from Canada, the previous median CPI y/y was 3.4%, and the m/m was 0.1%. Traders will be watching the CPI data closely as the release is scheduled ahead of the Bank of Canada Monetary Policy Report, Overnight Rate, and Rate ... (full story)
