Wednesday, February 8, 2017

USD/CAD has reversed directions

USD/CAD has reversed directions, posting slight gains in the Wednesday session. Currently, the pair is trading at 1.3150. On the release front, Canada will release Housing Starts, which is expected to remain above the 200K level, with the estimate standing at 202 thousand. There are no major US events on the schedule. On Thursday, the US releases the weekly unemployment claims report, which is expected to rise to 249 thousand. As well, the weekly crude oil inventories report will be released. Another strong surplus is expected, with an estimate of 202 thousand.