USD/CAD with the usual knee-jerk

Author: Adam Button | Category: News

USD/CAD sold off quickly after rising to 0.9951 on the soft GDP report and lower US personal spending.

It’s typical for moves of Canadian economic data to quickly fade, especially a backward-looking indicator like GDP.

Yesterday, a similar spike reversal continued 50 pips lower. Together the drops show strong demand to sell USD/CAD.

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