The USD/CAD pair pierced the 0.9450 level, but on Friday bounced hard. It should be noted however, that the pair also gave a lot of ground up later in the day. The reaction was to weak inflation numbers out of Canada, that was tempered by extremely strong retail numbers. We think this pair will be moved by oil, and a sustained break above $100 would do that.
The USD/CHF pair attempted to rally above the 0.83 level, but fell short again, and formed a shooting star on Friday, showing how weak this pair really is. With the debt ceiling talks stalling in America, this pair looks set to fall even further.
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