USDCAD Technical Analysis – The US data led to an upside breakout ...Middle East

Fundamental OverviewThe USD came back with a vengeance last Friday following the strong US NFP report where the data surprised with solid job and wage growth. There were also negatives like the uptick in the unemployment rate, but all in all, we can say that it was a good report.The data triggered a hawkish repricing in interest rates expectations with the market now expecting once again just one cut by the end of the year. It’s not a big deal in the bigger picture, but for now the sentiment is bullish for the greenback and we will likely need a catalyst to change it again. The CAD, on the other hand, was already a bit under pressure as the Bank of Canada delivered a slightly more dovish cut

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