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With a lack of top tier events from Canada, it was all about geopolitical and counter currency influences for the Loonie this week. After mostly mixed price action throughout, the Canadian dollar ended up as a net winner, only falling to the British pound.

Overlay of CAD Pairs: 1-Hour Forex Chart
Overlay of CAD Pairs: 1-Hour Forex Chart
CAD eekly Performance from MarketMilk
CAD eekly Performance from MarketMilk

Canadian Headlines and Economic data

Monday:

Wednesday:

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

Thursday:

Friday:

  • A little bit of pullback in global risk optimism as details of the newly formed U.S.-China trade agreement were a little bit disappointing (only 50% of the $112B in tariffs would be rolled back and China agreed to buy $32B in additional agricultural goods over the next two years, conflicting with Trump’s claims of $50B in agricultural purchases. This reversed some of the moves from earlier this week to put the Loonie as a net winner when it was all said and done.