USD/CAD fell hard during the session on Wednesday as the oil markets got a nice bounce. The market is picking up on the rumor that the Fed is about to ease again, and this got the risk assets out there gaining for the day. Bernanke speaks to the Congress today - so his words will be watched.
The NZD/USD pair broke out of recent consolidation on Wednesday as the "risk on" attitude came back for the moment. However, the trend is certainly down, and a lot of this is based upon rumors. These rumors could be smashed or validated today by Mr. Bernanke.