Re: Rosen's Daily
USD/CAD reacted strongly to last week's support when the pair briefly touched the support line at 1.3220 and then went to the upside. The gains, however, might turn out to be short-lived. After the initial impact, USD/CAD went to a high of 1.3342 and then the momentum disappeared.
The latest lower than expected US data that came out on Friday, the CPI and ARS, reflected in the price of the US dollar. USD/CAD is currently trading at 1.3297, down some 50 points until now.
The opening hours of today's session can be described as hours of low volatility and insignificant moves that could help traders and investors gain some insight about market sentiment and overall market conditions.