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USDCAD Fundamental Outlook

USDCAD Fundamental Outlook

The US dollar index posted modest gains at the start of the week and was last seen trading steady at 92.91. Lets now focus on the 28 November USDCAD Fundamental Outlook.

28 November, Octafx – Reports on the US goods trade balance and home values will make headlines through the early morning session. The Federal Reserve Bank of Richmond will also unveil its latest manufacturing index for the month of November.

28 November Fed speak 

The US policy wire will be highly active on Tuesday, with central bank members William Dudley, Patrick Harker and Jerome Powell scheduled to give remarks. Powell was recently chosen by President Donald Trump to head the all-powerful Fed once Janet Yellen’s term expires in February.

North of the border, the Bank of Canada (BOC) will release its Financial System Review, which provides a detailed breakdown of financial sector developments. Central bank governor Stephen Poloz will deliver a speech at 16:15 GMT.

The US dollar index posted modest gains at the start of the week and was last seen trading steady at 92.91. The dollar index is weighed against a basket of six currencies, including the euro, pound, franc, yen, Swedish krona and Canadian dollar.

28 November USDCAD Fundamental Outlook

The US dollar shot up against its northern rival on Monday as oil prices struggled to resume their upward pace. The USD/CAD exchange rate was last seen trading at 1.2761 following an 80-pip rally at the start of the week. The gain pushed the pair out of a fairly established trading range, leaving room for further upside in the short run.

Disclaimer

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