Posted 12/21/2023, 4:29:07 PM
Loonie Soars and USD/CAD Sinks as Inflation Cools, Retail Data Steady
- USD/CAD hits 19-week low as Loonie climbs and risk appetite recovers
- US inflation figures come in below expectations, fueling bets on future Fed rate cuts
- Canadian retail sales data mixed but better than expected excluding vehicles
- US Q3 GDP and inflation data softer than forecast, adding to dovish Fed expectations
- USD/CAD could see further declines with limited technical barriers on charts against CAD