USD/CAD: MARKET EXPECTATIONS AND RECOMMENDATIONS

The USD / CAD, which increased by 0.35% today, to the current mark of 1.2763 (see "Technical analysis and recommendations")

, retains its downward trend, primarily due to the weakness of the US dollar. At the same time, the Canadian dollar also receives support from the continuing positive dynamics of oil prices.

Nevertheless, the US dollar is strengthening on Friday. Probably, many financial market participants took profit at the end of the week.

The last two weeks until the end of the year will be shortened due to the beginning of the Christmas holidays. The next Thursday and Friday, the Catholic world will be celebrating Christmas and then preparing for the New Year.

From the news for today, it is worth paying attention to the publication by the Statistical Service of the retail sales at 13:30 (GMT), which may cause an increase in volatility at the beginning of the American trading session. The index is considered an indicator of consumer confidence and reflects the state of the retail sector in this perspective. If the data for October can be weaker than the forecast +0.2%, the CAD may weaken in the short term, including in the USD / CAD pair.

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