By FX Empire.com
The USD/CAD pair rebounded sharply to the downside on Wednesday, as the investors are targeting lower-yielding assets, where uncertainty continues to surround the outlook of Europe’s debt crisis, as EU Leaders gather in Brussels for the second summit in four days to discuss the debt crisis, how to aid Greece with a second bailout, the recapitalization of banks and leveraging the region’s rescue fund.
Markets’ bids conflicted whether EU leaders will be able to reach a final and fulfilling cure for the debt crisis, but at the mean time, traders will continue to monitor the latest developments from Europe, as EU leaders will announce their plans to ease the European debt crisis on Wednesday, and that will be the major market mover for the USD/CAD pair on Wednesday.
Thursday October 27:
The United States will start with the weekly jobless claims for the week ending October 22 at 12:30 GMT following a gain of 403 thousand two weeks earlier.
At 12:30 GMT, The U.S Department of Commerce will post the first reading of the GDP for the third-quarter of 2011, where projections suggest the economy expanded by 2.5 percent in the past three month, compared to the prior 1.4 percent growth in the second quarter this year.
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