![]() USD/CAD may remain as one of the more attractive venues for such themes, and the big area of interest for resistance potential is around that prior zone of support, spanning from 1.2952-1.3000. While the ECB had previously showed little worry about Euro appreciation, yesterday’s report of a study being launched to investigate the matter raised some eyebrows.Īnd given how aggressive that short theme had become in the USD in the back eight months of last year, there could be more squeeze on the horizon and that could further support the bid in the USD. And the driver for this will likely be determined by two prevailing forces, and those are both of the Central Bank variety as the Fed goes into their January rate decision a little later today, fresh on the heels of some interesting comments around the European Central Bank. ![]() While some CAD-weakness has certainly assisted with the topside move so far, the determinant of how far or long that stretch may extend is likely going to draw back to the US Dollar, and whether that theme of strength can continue. ![]() Get My Guide Can Bulls Push Through FOMC?
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