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Near the end of the week,USD/CAD is trading slightly above Friday’s lows consolidating weekly losses. For the third day in a row the loonie is the best performer among commodity currencies.
USD/CAD reverses
On Tuesday the pair climbed to 1.3458 and hit the strongest level in 11 years. Afterwards bounced to the downside, and started a reversal. It dropped on Wednesday after GDP data from Canada; it continued to decline on Thursday and on Friday bottomed at 1.3182, a 13-day low after the US employment report.
USD/CAD attempted to record from the lows but the area around 1.3250 capped the upside. It was hovering around 1.3200, 140 pips below the level it had a week ago.
USD/CAD reverses
On Tuesday the pair climbed to 1.3458 and hit the strongest level in 11 years. Afterwards bounced to the downside, and started a reversal. It dropped on Wednesday after GDP data from Canada; it continued to decline on Thursday and on Friday bottomed at 1.3182, a 13-day low after the US employment report.
USD/CAD attempted to record from the lows but the area around 1.3250 capped the upside. It was hovering around 1.3200, 140 pips below the level it had a week ago.
