The Canadian dollar surrendered to the might of the greenback for a second week in a row. Will the strong Canadian jobs help the loonie withstand the storm? Inflation data and the G8 meetings are the major events this week. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD.
Canada gained 58.2K jobs, most of them full time jobs, while seeing an expansion in the participation rate. These splendid news joined positive housing data, which was surprisingly good last week with a surge of 4.7% in Building Permits during March, while housing starts for April also improved with an upbeat pace rising to 244,900 units in April, from 214,800 units in March, Will the Canadian housing market help boost Canadian economy?
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdcad-outlook-may-14-18/"]USD/CAD Outlook May 14-18[/URL][/I][/B]
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