USD/CAD Weekly forecast: One of a kind against the USD

The weak attempt on Tuesday and Wednesday to break out of the pandemic declining channel failed at 1.2635 resistance, leaving the USD/CAD the sole major pair yet operational within its year-long parameters. All others have succumbed to a greater or lesser degree to the US dollar rate inspired rise. The USD/CAD finished the week at 1.2578 one point from its open on Monday. Canada’s dollar is a special case among the USD based pairs and its unique conditions have kept the loonie near its three-year highs. First, the gains in US Treasury yields have been largely matched by Canadian sovereign rates. Second, the pending … (full story)World Economy Risks ‘Dangerously Diverging’ Even as Growth Booms

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