The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
USD/CAD dives notwithstanding dismal Canadian data
On Monday, the greenback dived versus its Canadian rival notwithstanding the publication of dismal Canadian data because the American government shutdown kept dampening demand for the US currency.
The currency pair USD/CAD slid 0.29% being worth 1.2457.
On Monday, Statistics Canada informed that in November wholesale sales edged up 0.7%, confounding hopes for a soar of 1%.
In October, wholesale sales tacked on 1.6%, whose figure was updated from a previously evaluated 1.5%.
However, the US currency was still under pressure because the American government shutdown was still lasting on Monday after the Senate didn’t manage to reach a deal Sunday night to finance government operations.
US lawmakers have been struggling to reach a deal on immigration. The given issue is considered to be important to breaking that deadlock.
As for the Loonie, it gained versus the common currency, with EUR/CAD losing 0.10% being worth 1.5256.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!