USD/CAD rallies to fresh YTD highs at around 1.3070s on broad USD strength By christianborjon USDCAD Majors Macroeconomics Technical Analysis CentralBanks
An upbeat market mood and broad US dollar strength lift the USD/CAD.
Later, the US docket featured May Industrial Production, which rose by 5.8% YoY, lower than April’s reading, adding to signs of an economic slowdown. Meanwhile, Minneapolis Fed Neil Kashkari said that he supported 75 bps in June and could support another in July. He added that a prudent strategy might be to continue with 50 bps increases. St. LouisUSD/CAD Price Forecast: Technical outlook
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