The USD/CAD pair was mix, as the French president and the German Chancellor made slight progress regarding the new budget rules; however, they provided markets with nothing new and further details were not seen, therefore, the euro remained mixed after the news as markets are still waiting for details on how leaders will solve the debt crisis and how they will apply the new budget rules.
Eyes will be spotted on this year, and the performance of the European economy, especially after the ECB lent the European banks huge amount of money, and if that money will help the euro zone to continue recovery process amid big challenges.
The USD/CAD pair could still rise if pessimism continues to dominate markets, as uncertainty remains the main theme in markets, and that could also lead to deep fluctuations for the USD/CAD pair.
Tuesday January 10:
Canada will release the report of Housing starts for the month of December; it is expected to show a decline reaching 181.1 thousand units. Moreover, eyes will still focused on Europe and the crises that could cause any change in trading.
Originally posted here
