The USDCAD pair retreated on Monday as investors reflected on the new Omicron variant and the trends in crude oil prices. The pair was trading at 1.2743 on Monday morning. This was slightly lower than last week’s high of 1.2800.
Major drivers this week are US and Canada key economic numbers: - The US will publish the latest pending home sales numbers on Monday - Bank of Canada’s Tiff Macklem will speak on Monday - Tuesday, Canada’s statistics agency will deliver the latest GDP - US and Canada jobs numbers that will come out on Friday