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Most pairs were range-bound yesterday, possibly because of the lack of hard-hitting data on the economic calendar. It's also probably because traders are still awaiting the results of the US retail sales report.I wasn't able to score some decent trades yesterday since I was looking for breakouts and strong moves. However, I missed out on this USDCAD trade wherein I could've shorted at the pair's previous high or top daily ATR.

Economic figures from Canada have been relatively strong, with its trade surplus widening from 0.1 billion CAD to 0.8 billion CAD. As an export-dependent, commodity-based economy, this served as a strong bullish signal for the loonie. Aside from that, economic reports from the US have also been strong, allowing the loonie to benefit from risk appetite.