Credit Agricole: The Canadian dollar dragged down by weak economy, employment data may determine the direction
2026-11-07 12:13:57
According to CoinMeta, a research report by the Credit Agricole bank in France indicates that the Canadian dollar is still affected by the weak economy, and the short-term focus has shifted to the employment report for October. Over the past week, the US dollar against the Canadian dollar has stabilized around 1.40. The Democratic Party's significant victory in the mid-term elections in the United States did not significantly boost the Canadian dollar. Canada's third-quarter GDP preliminary figures show that economic growth slowed to 1.3%, which is lower than the Bank of Canada's forecast of 2%. The bank believes that if there are signs of recovery in the job market, it could provide support for the Canadian dollar. However, for the US dollar against the Canadian dollar to effectively break below the 200-day moving average around 1.39, stronger positive factors would be needed.
Bullish 0
Bearish 0
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.