USD/CAD Outlook (02 December 2020)
Overall, USD/CAD is trending downwards.
The Canadian GDP m/m data (Actual: 0.8%, Forecast: 0.9%, Previous: 0.9% revised from 1.2%) released yesterday indicated a slight slowdown in economic growth in September.
Also, the Canadian Manufacturing PMI data (Actual: 55.8, Forecast: NA, Previous: 55.5) released indicated little change in the rate of expansion of the Canadian manufacturing sector.
USD/CAD’s next support zone is at 1.28400 and the next resistance zone is at 1.30300.
Look for selling opportunities of USD/CAD.
The Canadian GDP m/m data (Actual: 0.8%, Forecast: 0.9%, Previous: 0.9% revised from 1.2%) released yesterday indicated a slight slowdown in economic growth in September.
Also, the Canadian Manufacturing PMI data (Actual: 55.8, Forecast: NA, Previous: 55.5) released indicated little change in the rate of expansion of the Canadian manufacturing sector.
USD/CAD’s next support zone is at 1.28400 and the next resistance zone is at 1.30300.
Look for selling opportunities of USD/CAD.
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