The USD/CAD pair continued to decline for a second day on Wednesday, as higher oil prices pushed the USD/CAD pair to the downside, where crude oil prices rose to the highest level since August 2008 above $109 a barrel.
Moreover, the Ivey PMI was released from Canada for the month of March, where Ivey PMI rose to 73.2 from the prior estimate reported in February of 69.3 and well above median estimates of 65.0.
Thursday 12:30, the building permits index will be released for the month of February, where the index declined in January by 5.1 percent, and expectations show that building permits declined by 0.3% in February.
Thursday 12:30, the U.S. Labor Department will release the weekly jobless claims, where conditions in the labor market seem to have improved recently, and jobless claims are expected to reflect that improvement, where jobless claims are expected to drop to 384K from 388K reported last week.
Originally posted here
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