| 
June 17, 2023
USD/CAD dropped to 1.3174, its lowest point in 4 months. It later recovered 23 pips and closed at 1.3198.
Amid the market gloom, Canada Wholesale Sales (MoM) (Apr) came out at -1.4, while a consensus of analysts was expecting 1.6. Canada Foreign Securities Purchases (Apr) released yesterday at 12:30 UTC with a figure of 13.52 billion, while the previous figure was -19.72 billion. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 15,700.
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: GBP/JPY soars 1.47% yesterday and closed at 179.29. Notably, USD/JPY rose 1.15% yesterday and closed at 140.26. EUR/JPY rallies 1.14% yesterday and closed at 153.5.
As things stand, US Dollar-Canadian Dollar is 16.78% away from a significant low of 1.1321 first set 7 months ago.
