The USD/CAD pair inclined, Markets were knocked down by concerns mounting over the 17-bloc euro nation’s debt crisis, as Fitch ratings fueled concerns saying Italy nears having its credit rating slashed. Now, Fitch will assign France and Spain under credit watch for possible downgrades until the month end.
Eyes will be spotted on 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.
Thursday January 12:
No data will be released by Canadian economy, while eyes will still focus on Europe and the crises that could cause any change in trading.
Originally posted here
