CAD had been in a strong up-trend in most pairs but after the result of the employment data released at the end of last week it had to take a step back.
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The Canadian Dollar has strengthened after months of weakness, following a rebound in oil and the Fed taking a step back from the previously hawkish stance.
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A recent study showed a 94% correlation between Oil and the Canadian Dollar is the relationship still strong - or is it weakening as some analysts are suggesting?
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Canada-specific data is in short supply over coming days but there are significant clues written in the charts which will provide us with guidance.
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The chart of the USD/CAD pair is showing a particularly bearish omen which could herald further downside eventually, although a bounce may occur first.
Read more … →The Canadian dollar's recovery following the Bank of Canada's decision to leave policy unchanged has lengthened as analysts interpret recent data in a positive light.
Read more … →It could be a very important week for the Canadian Dollar - here is what to watch.
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