The Australian dollar, New Zealand dollar, and Canadian dollar all fell lower as crude oil futures slumped more than $6/bbl while gold futures plummeted $9.50/oz, but when it comes down to it, AUD/USD and NZD/USD remain in consolidation mode as they trade above last week’s lows.
USD/CAD, on the other hand, may have already had its breakout following a series of bullish Canadian releases earlier in the week, including retail sales and CPI. Next week, the release of the New Zealand trade balance on Monday and Canadian GDP on Friday both have the potential to move markets, but since the latter will be a quarterly release, traders should be especially wary of the number.
**Want to know what happened in the rest of the majors or view technical support/resistance levels? Check out Daily Fundamentals in its entirety.
