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9 Reasons USD/CAD is Today's Strongest Currency Pair
Bullish developments abound today for USD/CAD, explaining why the pair is the day’s strongest major cross. There are at least nine major developments supporting today’s surge: 1. Today’s Q4 GDP release out of Canada came in well below expectations at just 0.4% annualized vs. 1.0% expected. The data was errantly released early on Statistics Canada’s website, giving some traders an early jump on the release and contributing to general bearish loonie sentiment. 2. Shortly thereafter, Markit revealed a slight miss in the February manufacturing PMI data (52.6 vs. 53.0 eyed), confirming that the Q4 slowdown has ... (full story)