USD/CAD had difficulty finding its feet last week, and ended the week with modest gains. The pair closed the week at 1.3280. There are only 4 events this week, highlighted by Building Permits. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. The Canadian dollar suffered when oil prices fell but could not really rise when they rose. It seems that the market wants to sell Canadian dollars even in the face of upbeat employment figures. In the US, employment numbers were mixed, which only complicates things for the Fed, as it mulls over a rate hike. USD/CAD daily chart with support and resistance lines on it.
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