The US Dollar showed strength in early July, reversing heavy selling positions, pushing the S&P 500 and Nasdaq to all-time highs. However, the Dollar Index has since sold off, impacting Forex more than stocks. The Dow Jones is catching up with its peers, while the Canadian Dollar remains stable despite global flow movements. The USD/CAD pair is rangebound with strong USD selling but no breakout expected. Economic data releases are expected for both US and Canada, with the weekly Jobless Claims report and Canadian Retail Sales numbers coming up. Friday will bring US PMI data and the Baker Hughes Oil Rig Count.

Read more at Investing.com: Mid-Week Market Update: Pump-Fake from the US Dollar