The USD/CAD ended its bullish run abruptly on Friday as investors shrugged off employment reports from Canada (weak) and U.S. (strong) and instead focused on a sharp rebound in oil prices. However, there has been no real follow-through in the selling pressure at the start of this week.
Investors have arrived in full force to exploit the opportunity to sell the euro at its highest level since November 2016, with the EUR/USD now appearing at risk to dropping back below 1.09 after briefly climbing above 1.10 when the markets opened for the week following confirmation of Macron becoming the new President of France.
Despite the falls in buck-denominated gold, silver and copper prices, the U.S. dollar hasn't exactly been strong with the British pound/U.S. dollar (GBP/USD) currency pair and EUR/USD remaining bid throughout the week. But the dollar has performed much better elsewhere.