The USD CAD pair strengthens to near 1 3885 during the early European session on Thursday. Support from hawkish comments made by Federal Reserve Chair Powell, along with the release of stronger retail sales data, bolster the Greenback’s position.

As market sentiments adjust to these economic indicators, traders should anticipate potential movements in the USD CAD pair. This strengthening suggests confidence in the US economy, leading to possible ramifications across other currency pairs.

In summary, traders in the forex market should closely monitor further developments. Staying informed will facilitate strategic decisions regarding movements in USD CAD and associated pairs as economic data continues to unfold.