For tonight’s “Pick,” we will take a look at the Loonie and the upcoming economic reports for Canada. Now, the momentum for the Loonie has been super strong, as we can see in USD/CAD. Will it continue? I think it should without a change in fundamentals and if the International Transactions in Securities report comes out infavor of the Loonie. So, we have a short bias on USD/CAD as we hope for the drop to continue, and we will short below the previous low at 1.1285.
Good luck and good trading!