CAD review

The Canadian Dollar has been impacted by 3 important factors in recent times; Canadian economic outlook, strength of the US dollar & Crude Oil Prices. All three will come into play this week to determine the near term trend for the Canadian Dollar. 

Crude Oil prices hit their highest level of 2015 in early morning trade on Monday firming up the Canadian Dollar. On Friday, we will have jobs data in Canada where 5k jobs are expected to be lost. 

US economic data will set the tone for the US Dollar and comments from US FOMC members will set the tone for the timing of the expected rate hike both of which impact the Canadian Dollar. 

Also trade data for March is on tap on Tuesday with the trade deficit expected to be under $1 billion. The important and hot real-estate market will also be in focus with building permits and housing starts data on tap on Thursday and Friday respectively.