⚡️ USDCAD outlook for week 40.

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⚡️Canadian Dollar back into recent lows as Crude Oil prices tumble on Friday.Canadian GDP missed market expectations, economic growth came in flat.USD/CAD etches in a new high for the week as CAD slips, US Dollar recovers.

⚡️The Canadian Dollar (CAD) saw both a new high and a new low against the US Dollar (USD) on Friday, with the USD/CAD slumping to a session low of 1.3417 before rebounding to reclaim the 1.3500 handle and mark in a new weekly high at 1.3580.

⚡️Canadian Gross Domestic Product (GDP) figures failed to meet market expectations, with the headline figure printing flat at 0.0% for the month of July versus the previous month’s 0.2% contraction. Markets were forecasting a meager 0.1% uptick in Canadian GDP.

⚡️Tightly wound Oil prices that have been bolstering the Canadian Dollar went slack in Friday trading, easing upside pressure on the CAD in tandem with an intraday rebound in the US Dollar Index (DXY).

⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️

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