• USD/CAD testing key resistance zone at 1.3930-67. Clean break here would open up 1.40

• Blowout U.S. payrolls print on Friday raises the importance for Wednesday's U.S. CPI read

• Another hot print would further entrench the recent Fed hawkish repricing - lifting USD/CAD

• Elsewhere, the USMCA deadline nears (July 1), which poses a headwind for CAD

• Headline risk likely to be elevated in the near-term

• Any signal from the U.S. of a USMCA exit would likely see USD/CAD firmly above 1.40
usdcad daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))