The USD/CAD pair remains unchanged as market enjoyed some gains on Thursday after the bond auctions went smoothly and successfully in both Spain and Italy while the ECB president Draghi said tentative signs of stability are seen.
On Thursday Spain sold double its target raising 10 billion euros as costs fell. While Italy also saw borrowing costs fall sharply as it raised its targeted 12 billion euros.
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.
Friday January 13:
Canada will release the trade balance report as the deficit is expected to ease, while US trade balance deficit may expand during November, and eyes will still focus on Europe and the crises that could cause any change in trading.
Originally posted here
