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> USDCAD June 8, 2018 Weekly Analysis
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USDCAD June 8, 2018 Weekly Analysis

Exclusive Capital Ltd.

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The USDCAD remains significantly above the level implied by the fundamental drivers. Surely today's unemployment rate (expected at 5.8%) for May is likely to be a main factor for the continuation of the rate hike cycle. Furthermore, the core inflation rates currently in line is another factor supporting the rate hike cycle too. In contrast, uncertainty may rise related to NAFTA's possible dampening effects on growth. Major support is found at the 1.2840 zone and resistance at the 1.3062 area.

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Source: https://www.exclusivecapital.com/usdcad-june-8-2018-weekly-analysis/
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