KlejdiCuni

USDCAD: US Debt Ceiling - Optimism / Uncertainty? Very Risky

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD: US Debt Ceiling - Optimism / Uncertainty?

Yesterday the market showed strong support for the USD.

The bullish wave was related to optimism about the Congres decision that could help with the US debt ceiling.

Support is expected as they will not make a move against the need of their country.

However, it will not be an easy decision.

This decision should be positive but the market will interpret their decision as well as the future impacts.

If it was enough to support the economy or if it was more than needed.

This uncertainty can push the USD down today on a lower time frame.

The only important event for today that I see is "Fed Chair Powell'sSpeech".
Probably the market will focus on his speech given the current problem with the US debt ceiling.
We can face high price volatility related to USD currency pairs and not only.



Thank you and Good Luck!




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