Disliked{quote} Good cad data should send usdcad lower, NOT higher. And bad usd data should send usd lower, not higher. What we are seeing today (and many other days) is simply the market going in the opposite direction of the foundamental data. We should always keep in mind that just a few banks (around 5) have the biggest market share on forex, so if they decided to buy usd or any other currency, the market move in such direction, reagrdless of any sort of fundamental data. Fx may be the biggest market in terms of liquidity, but it is also the most rigged...Ignored
US data was so so, but not as bad as anyone expected plus the expectation of a rate hike due to wage increase is the risk.
Risk and Fear move the market. Fundamentals are just the excuse.
hope for the best and expect the worst.