By FX Empire.com
The USD/CAD pair rebounded to the downside on Friday, as the dollar slipped against the majors following the latest political developments in the euro zone, especially after tension eased in both Italy and Greece, in addition U.S economy broke the silence today with the latest estimate of consumer confidence for November, fueling hopes regarding the threatened economic recovery.
Traders will continue to monitor the latest developments fromEurope, shall optimism continues to dominate markets and then we should expect the USD/CAD pair to extend its losses on Friday. Nonetheless, if more progress is made inEurope, demand for higher yielding assets will improve and that will put the USD/CAD pair under pressure.
Monday November 14:
We don’t have news from the United States and Canada, and accordingly, traders will be focused on the developments from Europe.
Originally posted here
