Canada economic data last month indeed is not good. Ivey PMI, labour market, and retail sales was also negative. While the main trade partner of Canda in North America is US is recovering very well from crisis, Canada economy seem doesn't receive support from US and the decline of Gold
contributed to the loss of Loonie recent months. This week, with Housing market data, Ivey PMI, and employment report, I think Loonie has to fight to maintain the year high. In my opinion, I choose bullish
view for USDCAD
now stops at year high : 1.1275
I don't encourage you buy USDCAD
at current price, it's too dangerous.
I will buy USDCAD
at 1.1000 or 1.1100 or 1.1060 I show on the chart.
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