The USD/CAD pair bounced around during the session on Wednesday in order to hover right around the 0.99 level. The general vicinity of 0.99 to the 0.9950 handle is where the market has been hanging about lately, and we think this will more than likely continue. After all, we have to figure out whether or not it is a “risk on” or “risk off” market. As all markets have suddenly become correlated over the last couple of years it’s hard to believe that this market will gain any traction in either direction. Once we get our shocking headline, or sudden “hopium” rally, this market will make its intentions obvious.
Written by FX Empire