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USD/CAD higher in thin trading
It’s a holiday in both the United States and Canada today so today’s 55 pip rise in USD/CAD is suspicious.
The pair took out Friday’s high of 1.3090 and is now threatening the August 23 high of 1.3102. Don’t rule out a run on stops because liquidity is thin.
On the weekend, Trump tweeted about Canada and NAFTA once again. It was the usual rhetoric on treating the US unfairly and he also warned Congress not to interfere, perhaps sensing that for 38 states, Canada is the largest trading partner and that a trade war might not help with re-election.
This article was originally published by Forexlive.com. Read the original article here.