CAD

Canada budget balance for March -C$33.59B vs a surplus of C$8.34B last month

US Canada GDP QoQ annualized 1.7% versus 2.2% estimate

• US Canada GDP data for Q1 2024

USDCAD Technical Analysis – Month-end flows lead to a rangebound price action

• The USDCAD pair is falling back to the key support zone around the 1.36 handle. What’s next?

Canadian small-business optimism jumps in May

• Firms expecting a rate cut?

USDCAD falls with the overall USD decline. The pair is settled between 100/200 bar MAs

• The 100 and 200 hour MA is also in play today for traders

Canada Q1 current account -5.37B vs -5.50B expected

• Canadian first quarter GDP report

With one week until the Bank of Canada decision, what's priced in?

• The market sees a cut, but it's a close call

USDCAD trades to new session highs as buyers look to take more control

• The price is back above a cluster of Moving averages in the USDCAD. Bullish shift.

Canada April producer price index +1.5% vs +0.8% prior

• Canadian April producer price index data

USDCAD Technical Analysis - We are back at the key support zone

• The USDCAD pair fell back into the key support zone around the 1.36 handle. What’s next?

Canada prelim April wholesale trade sales +2.8%

• Preliminary data for April

USDCAD falls but approaches a key dual MA support target

• USDCAD tumbles lower despite mixed economic indicators, with potential support seen at key moving averages. Buyers may step in around 1.3668 level for possible bounce back.

Canada retail sales for March -0.2% versus 0.0% expected

• Canada retail sales data for March 2024

USDCAD Technical Analysis – We are trading between two key levels

• The USDCAD is bouncing around the 1.36 support and the trendline around the 1.37 handle. What’s next?

3 reasons the Bank of Canada will begin a cascade of rate cuts, first in June

• ... or maybe July!