USD/CAD weekly technical outlook

forum forex

Trader
Sep 23, 2021
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London, United Kingdom
USD/CAD direction would lie in the hands of the Bank of Canada (BoC) and US dollar dynamics. However, on Wednesday, US inflation rose to a 30-year high above 6%, which spurred an upside move in US Treasuries and the US dollar.

On the macroeconomic front, the US economic docket featured the University of Michigan Consumer Sentiment Index for November edged lower to 66.8, lower than the 71.7 in October, marking the lowest reading since November 2011.