USD/CAD falls to one-week low

Author: Adam Button | Category: news

Author: Adam Button

USD/CAD hit stops below 0.9960, which was the low in the last two days. The Canadian employment report was a touch soft but today’s price action proves (once again) that US economic data is the best leading indicator for Canadian growth and trade.

If USD/CAD can close out the day below 0.9950, we may see a retrest of 0.9885 next week but that’s far from a sure thing.