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The Loonie was hit hard this week on the usual risk aversion influences from the continued Coronavirus theme driving the markets lower over the past month, but also on a rate cut from the Bank of Canada with expectations of more down the road if necessary.

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

Canadian Headlines and Economic data

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Wednesday:

Thursday:

Friday:

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