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USD/CAD rises and tests its 2022 highs amid risk-off sentiment and falling oil prices. Next week's FOMC interest rate decision could be the most important catalyst for near-term price action.
The Fed could bolster the USD/CAD bullish outlook next week if it decides to reduce asset purchases more quickly than its current pace and signals that it will raise rates earlier than planned
The Dow Jones could have more upside potential in the near term as the fundamental outlook becomes more positive and the technical picture remains bullish.