Forex
USD/CAD Rally Could Accelerate Above $1.4250 as Bulls Remain in Control
The USD/CAD currency pair has shown resilience in the face of weaker US jobs data, and analysts believe that this rally could accelerate above June's highs at around $1.4250.
Fawad Razaqzada, Market Analyst, notes that while the jobs report was disappointing, it did not change the dollar's argument for strength.
Inflation remains a key concern for the Federal Reserve, and elevated oil prices are keeping pressure on bond markets and yields higher.
The June highs remain a hurdle for renewed momentum in the USD/CAD pair, but if these levels are surpassed, analysts expect to see further gains, with potential targets at $1.4300 and $1.4400.