USD/CAD Offers Scalping Opportunity Ahead of OPEC Meeting

The Canadian dollar was the outperformer overnight as markets were anticipating a strong retail sales report which printed an inline 0.8% gain. Additionally, the prospect of OPEC keeping their production quotas on hold helped firm oil prices and provide “loonie” support. The USD/CAD has run into technical support which could cause traders to take a pause as they weigh the outcome of the looming event risk.

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USD/CAD Offers Scalping Opportunity Ahead of OPEC Meeting

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The Canadian dollar was the outperformer overnight as markets were anticipating a strong retail sales report which printed an inline 0.8% gain. Additionally, the prospect of OPEC keeping their production quotas on hold helped firm oil prices and provide “loonie” support. The USD/CAD has run into technical support which could cause traders to take a pause as they weigh the outcome of the looming event risk.

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USD/CAD Offers Scalping Opportunity Ahead of OPEC Meeting

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