USDCAD Technical Analysis – A look at the chart ahead of the Canadian CPI ...Middle East

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USDCAD Technical Analysis – A look at the chart ahead of the Canadian CPI
Fundamental OverviewThe USD last week finished slightly positive but overall, it was a pretty flat week. We got some great US PMIs on Friday which showed growth without inflationary pressures. In fact, despite the strong PMIs the market pricing for interest rates remained unchanged. That should be generally positive for risk sentiment going forward.The CAD, on the other hand, has been gaining ground against the greenback probably on the back of the better risk picture. Today, we have the Canadian CPI data and that will definitely move the Loonie. The market is already pricing around 65% chance of another BoC rate cut in July and today’s data might seal those expectations. That could weigh on

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