USDCAD

Us dollar / Canadian dollar

The agenda includes business activity in the service sector of different countries, summary indicators of business activity, US production orders and retail sales in the Eurozone.

The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.

Obviously there has been a structural shift in the markets toward a bearish dollar position. According to economists at Internationale Nederlanden Groep (ING), current U.S. nonfarm payrolls data may not cause an inversion of this trend.

Central banks have recently been stepping up measures to combat global inflation. Investors, meanwhile, are actively discussing the continuation of high price levels amid limited supply.

In November, economic activity in the US manufacturing sector declined. The most recent reduction was in May 2020. The reason for the decline in output was a decrease in the number of orders over the past three months.