UPDATE: Opportunity didn't knock for loonie bears
The original Trade Idea expected that the mix of weak Canadian data, strong US data and low oil prices plus the proximity to 1.4000, would launch USDCAD higher.
That didn't happen. The Canadian data did its part. GDP and retail sales were weak. The US data was mixed but oil played the spoiler and it played that role well.
A steep drop in US crude supplies reported on December 24 boosted WTI prices. USDCAD traders who were around sold the currency pair and triggered the stop for a loss of 0.0054 points.
Original trade idea parameters
Entry: buy ½ position of USDCAD at market (currently 1.3905); balance at 1.3860.
Time horizon: December 30, 2015.
— Edited by Gayle Bryant