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USD/CAD remains range-bound amid mixed US data and softer Canadian Retail Sales
Key Takeaways (30s Read)
USD/CAD remains stable as mixed US data and softer Canadian retail sales keep it range-bound.
The USD/CAD currency pair remains stable amid mixed US economic data and softer Canadian retail sales. During Friday's trading session, the USD showed a slight recovery, with USD/CAD trading around 1.3784. This level indicates that the pair is confined within its recent range, and a recovery from the intraday low of approximately 1.3755 is noted. Traders are focused on the mixed results of US economic indicators while keeping an eye on developments in Canada, especially given the deterioration of retail data, which could impact the CAD significantly.
AI Analyst
AI Opinion
"The current range-bound movement of USD/CAD reflects the mixed impact of US economic data. The slight recovery in the USD suggests some resilience, while the softer Canadian retail sales are putting pressure on the CAD. In such a scenario, traders need to monitor market liquidity and subsequent economic indicators to adjust their strategies. Should further economic data be released, USD/CAD may take a clearer direction, but for now, range-bound trading is likely to persist."
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