The C$ is weaker overnight on lower commodity prices. The market is quiet, waiting for employment numbers today that could increase volatility, but we expect C$ to continue to weaken so any rally should be sold.
This morning is the seventh day the US$ has tested the monthly highs. The US$ remains strong and will eventually break through, but we look for a pullback first, so this is a short-term US$ selling opportunity.
The EUR is holding on the lows. There are rumours of the Brexit deadline being extended yet again, so while the EUR remains in a long-term downtrend this is a good EUR buying opportunity in the short-term.
- Drummond Gill