Despite the horrid figures in Canada's March jobs report, the C$ strengthened and the yield on the 10-year Government of Canada bond climbed following the release of the data at 8:30 am ET. There are some explanations offered as to why. TD Securities says USD/CAD trading has been complicated by the Federal Reserve announcing--at around the same time as Canadian employment--over $2 trillion in lending programs as well as pending news of a possible oil-production cut from OPEC. "It is clear that the market regime is past the point of shock and awe," the firm says, adding traders might be more focused on the direction of the virus-contagion curve.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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