January 13, 2012
The absence of high profile economic reports on Canada's economic calendar kept USD/CAD trading within a relatively tight 70-pip range yesterday. USD/CAD ended the day at 1.0191, just two pips lower from its opening price at 1.0193.
There was only one report that was released. The New House Price Index, or NHPI, showed an increase of 0.3%, slightly higher than the 0.2% rise initially predicted. It was also a better figure than the one seen last month.
Today, only the trade balance is scheduled to be published. The market is expected the report to show a 500 million CAD deficit, which is a significant decrease from the previous month's 900 million CAD deficit. Await the actual figure at 1:30 pm GMT.
"The only cable I watch is the pound baby."