USD/CAD Currency Update

This week the sell-off in the Canadian dollar continues as metal prices are extending their previous week’s declines. The USD/CAD is currently trading at 0.9807 after touching highs of 0.9815 earlier in the session.


Traders, who want to profit from the movements in the currency pair should monitor closely the results from the reports that are scheduled to be released later in the week as they might have a significant impact over the direction of the USD/CAD. First we have the retail sales and the core retail sales, published on Tuesday, and later we have the GDP numbers, announced on Friday.