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USD/CAD – Loonie Awaiting US Employment Data

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian economy expanded in January by 0.6 percent doubling economists expectations. This is the strongest monthly GDP figure since the price of oil was above $100 in July 2013. The Canadian dollar has been riding a positive trend against the USD after the March Federal Open Market Committee (FOMC) disappointed with a dovish tone. The loonie depreciated on profit taking and end of the month flows with traders also eyeing the release of the U.S. employment report on Friday. The USD/CAD

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