The first week of 2022 could be an exciting one for USD/CAD with the release of both country’s jobs reports and an OPEC+ meeting in the pipeline.
Trader’s should keep a close eye on whether the surge in coronavirus cases has impacted employment, and what effect that may have on either central bank’s policy plans. OPEC’s decision on oil supply will also likely have an impact on this currency pair given the Canadian Dollar’s strong correlation with the energy commodity.
For more information and an in-depth analysis of the key levels to keep an eye on, check out the following article by one of our senior analysts: