The C$ has fallen to a two-week low and remains weak this morning heading to new monthly lows. The market is blaming the weakness on interest rates that could hurt a weakening economy. Any C$ strength today is a selling opportunity.
Unlike Canada, the US shows no signs of an immanent recession. With no important economic numbers due today, look for continued US$ strength.
Brexit remains front-page news and the EUR is remains weak. Look for EUR to continue to fall later today towards new yearly lows.
- Drummond Gill