The Canadian dollar benefited from a slumping greenback on Wednesday. How does the USDCAD pair today? A look at the 25 January USDCAD Fundamental Forecast to have a view.
25 January, OctaFX – The US government will release the latest trade and jobless claims numbers at 13:30 GMT. Later in the morning, the Department of Commerce will report on new home sales for the month of December. The Kansas Federal Reserve Bank will also issue the manufacturing activity survey at 16:00 GMT.
North of the border, the Canadian government will report on retail sales at 13:30 GMT. Receipts at retail stores are forecast to rise 0.7% in November after surging 1.5% the month before.
In currency news, the US dollar is trading at its lowest level in three years, as concerns over trade policy continue to weigh. The US dollar index (DXY) fell below 90.00 on Wednesday for the first time since late 2015.
25 January USDCAD Fundamental Forecast
The Canadian dollar benefited from a slumping greenback on Wednesday, with the USD/CAD bottoming out near 1.2300. The pair was last seen trading at 1.2319, having declined 0.2% from the previous close. The pair remains in a firm downtrend, which could expose last September’s lows near 1.2200.
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