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USD/CAD technically on a reverse course - TD Securities

FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities explained that with a total absence of major data releases from the US or Canada today, investors will have to rely on technical inputs.

Key Quotes

"Investors will have to rely on technical inputs and flows for near-term direction, bearing in mind that there is some event risk ahead in the form of Canadian (GDP) and US (GDP revisions, personal income/spending) data that is still to come this week."

"From a technical point of view, if the overnight drop in funds was mainly a flow-related event, there are tentative signs from the short-term charts at least that USD/CAD may be trying to reverse course as our session gets underway”.

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