Soggy Canadian GDP not good for the loonie but not the whole story 29 March
The weaker readings albeit tempered by some upward revision, saw the algos send USDCAD to 1.2941 session/recent highs but now 1.2915.
Remember these are vanilla options and in play right up until expiry even if breached in the meantime unlike barrier options which cease to be once broken.
I’m heading away now for the week-end. I wish you a good month-end session which could turn out to be a lively one. Keep an eye on the 15.00 GMT fix but some of the need will have been filled already.