Hi Everyone and why USDCAD Tanked

[pipsurfer56]

Hi everyone! Wanted to introduce myself to this great forum!

Also, I was wondering if anyone could tell me why the USDCAD tanked hard yesterday?

 

[YouAreNotFree]

Rising prices in Canada bringing the prospect of higher interest rates.

 

[brettus]

Rising prices in Canada bringing the prospect of higher interest rates.

CPI came in high as well as GDP figures coming in better than expected. S&P has risen a lot and USDCAD is inversely correlated to the S&P. ( > -0.8). Strong CAD figures and prices increasing a chance of a rise in interest rates.

 

[safvan]

The charts on USD CAD seem to be quite choppy all the time.

Since October 2008, this pair does not show to be quite promising for long term profiting techniques.

Range strategies probably.

The price just seems to spend a aweful lot of time within previous ranges and then the action within this range is like a knife like choppy.