USD/CAD: Big Data Week For CAD; What's The Trade? - TD




TD FX Strategy Research notes that USD/CAD remains in a fairly predictable range just as the positive US drivers fade and the Canadian risk calendar heats up.

"Indeed, this week’s drivers are likely to shift back to a more Canada-based focus, with BoC outlook survey, CPI, and retail sales.
BoC followers closely watch the outlook survey, and we believe that CAD is likely to focus on the details of the release that pertain to firms’ growth and investment intentions," TD argues. 
"Fresh evidence of rising domestic price pressures should favor more downside in USDCAD where we look to sell into rallies near 1.2550," TD advises.

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