USD/CAD Forecast June 1-5

USD/CAD enjoyed another strong week, gaining about 150 points. The pair closed the week at 1.2453, its highest close since early April. This week’s major event is Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD.

In the US, the dollar got a boost from strong core durables data and managed to weather weak GDP and employment numbers. The pair moved higher as Canadian GDP disappointed, posting a decline of 0.2%.

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