Category: Pave
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USDCAD higher on the day. Retail sales weak pave the way for a BOC rate cut next week.
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The USD/CAD pair rose during the North American session following weaker-than-expected retail sales earlier today. This, coupled with weaker CPI data earlier this week, paves the way for a Bank of Canada interest rate cut next week (Wednesday). Technically, the price broke a bearish trend line, maintaining the bullish trend…