- BOC Business Outlook Survey: Monday, 14:30. This well-respected survey looks at a wide range of business conditions, including spending and hiring expectations. It should be treated as a market-mover.
Technical lines from top to bottom:
We start with resistance at 1.3046.
1.2938 switched to resistance at the start of December, when USD/CAD started its slide.
1.2833 is next.
1.2768 (mentioned last week) saw action early last week.
1.2669 is under pressure in support.
1.2578 is next.
1.2505 is protecting the round number of 1.2500.
1.2291 is the final support level for now.
I am neutral on USD/CAD
Both Canada and the US posted weak job numbers, and the Canadian dollar responded by remaining flat on Friday. The US dollar has stabilized, but any gains this week will likely be limited.
- EUR/USD forecast – for everything related to the euro.
- GBP/USD forecast – Pound/dollar projections.
- AUD/USD forecast – analysis for the Aussie dollar.
- USD/CAD forecast – Canadian dollar predictions.
- Forex+ weekly forecast – Outlook for the major events of the week.