Oil, GDP and employment the focus
USD/CAD trading this week will be driven by three major events on Thursday and Friday.
The OPEC meeting on Nov 30 followed by reports on Q3 GDP and November employment will be the drivers for the pair.
Today the pair fell to 1.2680, just above the November low of 1.2666 but a bid in the US dollar over the past hour has lifted the pair to 1.2725. Friday's high of 1.2748 will offer some light resistance.
In the bigger picture, the pair unlikely to make a big move (at least on the CAD side) until the numbers are released.
On Friday, I spoke with Reuters about the loonie.
