Federal Open Market Committee (FOMC) member Neel Kashkari will deliver a speech at 14:00 GMT. How will USDCAD move today? Let’s find out with this 10 October USDCAD Fundamental Drivers Analysis from OctaFX.
10 October, OctaFX – In North America, the Canadian government will report on housing starts and building permits at 12:15 GMT and 12:30 GMT, respectively. The reports will be used to gauge the health of the Canadian housing market.
In the United States, Federal Open Market Committee (FOMC) member Neel Kashkari will deliver a speech at 14:00 GMT.
10 October USDCAD Fundamental Drivers
The Canadian dollar strengthened against its US counterpart on Monday, a trend that continued well into Tuesday’s session. The USD/CAD was last down 0.2% at 1.2523. The pair continues to trade above a key technical support, but is locked in a relatively neutral range. A recovery attempt north of 1.2770 is needed to ensure further bullish momentum for the pair in the weeks ahead.
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