During the first half of Thursday’s trading session, the US Dollar surged by 191 basis points against the Canadian Dollar. However, the currency surrendered the entire gains by the end of the session.
Everything being equal, the USD/CAD exchange rate will most likely edge higher today. A breakout through the upper boundary of a descending channel pattern could occurs.
However, today’s macroeconomic data releases could play an important role in the overall movement of the currency exchange rate.
