The USD/CAD steadied around the opening level Friday, as traders switched on holiday mode with Christmas on doors, so trading volumes ebb down and market
USD/CAD Forecast Dec. 27, 2011, Fundamental AnalysisThe USD/CAD steadied around the opening level Friday, as traders switched on holiday mode with Christmas on doors, so trading volumes ebb down and market movement is rather limited in a tighter range before the New Year’s holiday, yet with slight punch of risk.
Sentiments will start to shape as investors remain cautious ahead of the New Year’s holiday but traders will be mostly concerned about the latest development from the 17-bloc euro area.
The USD/CAD pair could still rise if pessimism continues to dominate markets, but we still expect volatility to hold the steer for now, as uncertainty remains the main theme in markets, and that could also lead to deep fluctuations for the USD/CAD pair.
Tuesday December 27:
No economic data will be released from Canada so eyes will be focused on Europeand the latest updates which could impact sentiments over the holiday season.
