Loonie correction?

There are also important events on the commodity currencies market segment. While AUD/USD and NZD/USD continued recent bullish run, hitting fresh 3-month highs this past week, USD/CAD performed profit-taking pullback right after Bank of Canada rate decision last Wednesday. The regulator hiked interest rates to the highest levels since 2009, with the strong economy growth noted in 2017. But the following statement caused high volatility on the market as BoC Governor Poloz underlined potential pause in tightening and noticed further data dependence. USD/CAD traded in wide range of 200 points during 30 minutes. The pair ended the trading week with modest gains of 0.30%.
Economic reports from Canada will determine further trend direction, so USD/CAD will be very sensitive for any changes comparing to the expectations. Next week calendar highlights Wholesale and Retail Sales, with the main focus at Inflation Report due on Friday.