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[OTHERS] USD/CAD Forecast July 23-27 – CAD Silently Recovering

Dollar/CAD finished most of the week trading in restricted ranges as no news on the trade front helped the loonie strengthen. The upcoming week includes just a single Canadian occasion, leaving the market mindset as the essential driver of the match. Here are the highlights and an updated technical analysis for USD/CAD.

Canada’s Foreign Securities Purchases missed the mark regarding desires, however, producing deals were on the ascent. Oil costs stayed on the back foot, putting some weight on the C$. In the US, Fed Chair Jerome Powell communicated trust in the US economy and made an effort not to discuss exchange relations, helping the greenback. US retail deals were hardly superior to anticipated.

USD/CAD Fundamental Analysis

1. Wholesale Sales: Monday, 12:30. The volume of sales at the wholesale level is employed by as a prediction of future retail sales. An unpretentious rise of 0.1% was seen in April and we may see an improved outcome this time.

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