The Canadian Dollar (CAD) was overall softer on Friday, shedding weight across the currency board, but still found gains against the risk-appetite-weakened Greenback to wrap up the trading week. Broad-market risk sentiment improved further on Friday as upbeat US data prints help to temper recent investor fears of a US recession.Canada will be bringing its latest round of inflation data next Tuesday, and CAD traders will be looking for stable prints in Canadian Consumer Price Index (CPI) figures to keep sentiment on-balance. Daily digest market movers: CAD soft on Friday, but Greenback softer
Canadian Dollar price forecast: Greenback slide gives CAD fresh leg into near-term highsThe Canadian Dollar (CAD) found room up top thanks to a weakening Greenback on Friday, climbing into a three-week high and sending USD/CAD below the 1.3700 handle.The pair found a technical rejection from the 50-day Exponential Moving Average (EMA) at 1.3728, with price action hamstrung in the midrange between the 50-day EMA and the 200-day EMA at 1.3634. USD/CAD daily chart More By This Author:EUR/USD Blinks On Thursday, Falls Back Below 1.1000 GBP/USD Flattens As Markets Await Key Midweek Data Canadian Dollar Softens On Tepid Monday