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USDCAD Makes A Bullish Comeback Post FOMC
Technical Sentiment: Bullish Key Takeaways •Fed tapered its QE program by another $10billion; •Indications for a rate hike timeline were left out again, since there’s “considerable time” left until it will happen; •Building Permits (neutral), Unemployment Claims (neutral) and Philly Fed Manufacturing Index (bearish expectations) are due on Thursday, 18th September; •USD/CAD bounced off 1.0930, with more gains expected in the coming trading sessions. Traders were slow to react immediately after FOMC, yet in the end, when all the news was digested, US Dollar bulls were clearly back in the driver’s seat. ... (full story)