According to recent data, the Canadian economy is performing well at the moment. Canada had solid economic growth of 3.1% in 2017 and this growth is expected to continue in 2018. The labour market has been thriving, adding 343,000 jobs. While the growth of the Canadian economy is expected to slow to about 2.2% in 2018, this is still decent growth.
The USD/CAD pair might fall at 1.2150 in the next three weeks. The most important data about the CAD this week will be the GDP YoY (+3.4% expected; +3.4% previous); MoM (+0.4% expected; unchanged previously), on Wednesday. On Friday, there are also expected positive data from the USA: NFP (expected+180k ; +148k previous); unemployment rate (expected +4.1% ; +4.1% previous).