USD/CAD declined below the support at 1.2130 and tested the next support level at 1.2100.
The Canadian dollar strengthened against its U.S. counterpart on Friday and was on track for its seventh straight weekly gain as oil prices rose and domestic data added to evidence of robust economic growth in the first quarter. Canadian factory sales rose 3.5% in March from February, led by the motor vehicle, petroleum and coal, and food product industries, while wholesale trade was up 2.8%, Statistics Canada said. The price of oil, one of Canada's major exports, reversed some of the previous day's sharp losses as stock markets strengthened, though gains were capped by the coronavirus situation in major oil consumer India and the restart of a fuel pipeline in the United States.
Economic data from the U.S is back in the spotlight today. Following a jump in inflationary pressures, retail sales will be the main area of focus later today.