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The Loonie managed to get some wins this week despite mixed economic updates from Canada, likely with the help from a strong week in oil prices.

Overlay of CAD Pairs & Oil (Black Line): 1-Hour Forex Chart
Overlay of CAD Pairs & Oil (Black Line): 1-Hour Forex Chart

Canadian Headlines and Economic data

Monday:

  • China to impose tariffs on U.S. goods despite Trump warning –  rising tensions between the U.S. and China is likely the catalyst for the early week risk aversion sentiment. This is likely why we saw the Loonie out perform against the other comdolls while under perform against the rest of the majors at the start of the week.

Tuesday:

Wednesday:

Thursday:

Friday: