USD/CAD rises to a one-month high

USD/CAD breaks the weekly high, climbing above 1.2913

USD/CAD edged above Tuesday’s high of 1.2913 to rise to the best levels since April 2. The pair has been on the upswing after completing a textbook head-and-shoulders top in March.

Since then, it’s staged a rebound and is now threatening the early April highs near 1.2950.

The week ahead is going to be critical for this pair with NAFTA negotiations seemingly stalled out but that might just be a reflection of Lighthizer, who had to make a trip to China.