USD/CAD Forecast September 1, 2016, Technical Analysis

The US dollar rose against the Canadian dollar during the day on Wednesday, as the Crude Oil Inventories number came out much more bearish than anticipated. With that being the case, it’s likely that the Canadian dollar will continue to suffer, especially if the jobs number is good on Friday. Having said that, I believe that we are going to try to reach towards the 1.32 level given enough time, but it might be a bumpy ride between now and the announcement the comes out Friday early morning in the United States.

Economic Calendar