The Canadian Dollar (CAD) shed another quarter of a percent against the Greenback on Tuesday, trimming lower slipping back against the US Dollar for a fifth straight trading day.
The Canadian Dollar lost another quarter percent on Tuesday. Canada saw a steeper-than-expected contraction in trade balance figures. Fed Meeting Minutes to reveal further details about Fed ’s latest rate moves. The Canadian Dollar shed another quarter of a percent against the Greenback on Tuesday, trimming lower slipping back against the US Dollar for a fifth straight trading day. The CAD has shed almost 2% against the Greenback since peaking in late September.
Overall, the technical outlook for USD/CAD is currently bullish, but traders should watch for signs of exhaustion or a breakout above current resistance for confirmation of further gains.
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