The Canadian dollar partially enjoyed the rise in oil prices. It could backfire and hit the US economy, Canada’s No. 1 trade partner. GDP is the highlight event this week. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD.
Last week, retail sales dropped 0.2% in December posing the first decline in five months due to a sluggish holiday shopping and a slowdown in the automobile industry. The decline was in line with predictions following 0.4% gain in November. Meanwhile, Core sales remained flat in December, slower than the 0.1% rise predicted by analysts. Will things shape up this week?
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdcad-outlook-feb-27-mar-2/"]USD/CAD Outlook Feb. 27-Mar. 2[/URL][/I][/B]
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