The USD/CAD currency pair might rise in the next month, based on Trump’s tarrifs. The risk-off atmosphere of Canada weighed heavily on the CAD. Uncertainty is already causing damage and the downtrend of Canadian dollar might continue.
The RSI oscillator is above 50 and this indicates an uptrend for the USD/CAD pair, according to the daily & weekly chart.
The most important data of this week:
Governor of the Bank of Canada Stephen Poloz will spek in Victoria
US GDP YoY (+2.2% expectation); (+2.2% previous)
Canada GDP YoY (+2.6% expectation); )+2.9% previous)
MoM ( unchanged expectation) ; (+0.3% previous)