USD/CAD Forecast Dec. 28, 2011, Fundamental Analysis
The USD/CAD pair steadied below the opening level, since trading volumes are becoming thinner over the week before the New Year’s holiday, noting markets are closed today including UK and Australia, yet the US data that was out today showed that the US economy improved recently. Sentiments will start to
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Sentiments will start to shape as investors remain cautious ahead of the New Year’s holiday but traders will be mostly concerned about the latest development from the 17-bloc euro area.
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The USD/CAD pair could still rise if pessimism continues to dominate markets, but we still expect volatility to hold the steer for now, as uncertainty remains the main theme in markets, and that could also lead to deep fluctuations for the USD/CAD pair.
Wednesday December 28:
No economic data will be released from Canada so eyes will still focus on Europe and the crisi that could impact trading now and then.