USD/CAD Update – 10/08/2017 (11:50am) – by Arjun Lakhanpal

August 10, 2017 by

USD/CAD Update – 10/08/2017 (11:50am): USDCAD broadly tracked risk sentiment yesterday and traded up through short term resistance at 1.2715 as risk remained on the back foot following developments in N.Korea / US. Tomorrows US CPI print remains the focus and the market rather skeptical as to whether the fed will hike again this year this print is important.  Risks at these levels in USDCAD are relatively balanced with a slight skew to a near term squeeze back towards next resistance 1.2775 / 1.2800.  Support comes in 1.2650 ahead of 1.2600.