USD/CAD can not choose your destination

Market news

20 December 2012

USD/CAD can not choose your destination

Loonie strengthened in tandem with the dollar after a report on retail sales came out of Canada more than expected, and the U.S. GDP in Q3. has been revised to increase to 3.1%.

USD/CAD retreated from a 2-week high of 0.9895 reached before the release of the report, and re-tested the day low 0.9874 before meeting support. Currently the pair is trading at 0.9894 on intraday highs.

U.S.: Leading Indicators , November -0.2% (forecast -0.1%)

US Stocks open: Dow 13,257.10 +5.13 +0.04%, Nasdaq 3,046.20 +1.83 +0.06%, S&P 1,436.21 +0.40 +0.03%

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