USDCAD Breakdown (22 May 2020)

Title : USDCAD Breakdown (May 22, 2020)

Broker : Tickmill

Description : USDCAD Daily Outlook – On Thursday we had a mix of good and bad news. The US Jobless claims totaled 2.4 million, still elevated levels but a declining pace from previous weeks. Home sales dropped nearly 18% in April, while the decline in inventory pushed prices to a record high. Canada shed over two thousand jobs in April. Across the pond, the Eurozone economic downturn showed signs of easing as lockdowns lift, but the UK factories reported the biggest output drop in over 40 years.

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