FX Action: USD-CAD rallied back to 1.2386 FX Action: USD-CAD rallied back to 1.2386 highs, from pre-Draghi levels of 1.2325. The USD moved broadly higher following the QE announcement, though USD-CAD was likely impacted by the concurrent slide in oil prices. WTI fell nearly $1.00, to $4750 after EUR-USD slide to session lows. Initial USD-CAD resistance is seen at 1.2300, though more stops are likely lurking above.
BofA/Merrill European economist to hold an analyst/industry conference call Chief European Economist Moec and Head of European Credit Strategy Martin discuss the European Central Bank's meeting announcements, as well as discuss if ECB President Draghi's plan is bold enough together with cross asset implications on an Analyst/Industry conference call to be held on January 23 at 9 am.