I am new to Forex so please excuse if I have butchered something.
Gold tanks today (I think based on stronger factory output report for November, and adjusted October numbers)
So why does the USD/CAD rise? CAD is commodity based.
Based on that alone I would expect USD/CAD to fall, giving a chance to go short and pick up an easy 20 pips.
Am I missing an oil report or something else that would have negated the Gold drop? Certainly it was not based on an announced cabinet shuffle.
Thoughts?