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The Loonie survived rising geopolitical tensions and oil’s roller coaster week to finish barely net positive against the other major currencies.

Overlay of CAD Pairs: 1-Hour Forex Chart
Overlay of CAD Pairs: 1-Hour Forex Chart

Canadian Headlines and Economic data

Monday:

Tuesday:

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

Wednesday:

Thursday:

Friday:

  • CAD pairs ended the week taking steps back, likely on one more boost higher in risk aversion behavior during the U.S. session, likely on the rising geopolitical tensions after oil tanker bombings in the Middle East. U.S. dollar strength also likely played a role in putting pressure on the majors after a better-than-expected U.S. retail sales number.