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USD/CAD – Loonie Lower Ahead of FOMC Minutes

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Canadian dollar depreciated today versus the USD. The U.S. dollar gained 0.67 versus the CAD in the last 24 hours. Risk off and traders squaring positions ahead of the release of the Federal Open Market Committee (FOMC) meeting minutes tomorrow at 2:00 pm EDT favoured the USD even as the notes from policy makers will signal further patience from eh U.S. central bank. The release of the Canadian Trade at $1.9 billion deficit was almost three times from last month’s figures. Imports declined

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