The C$ rallied near to the highs of the month this morning on election news of a pro-growth party in Alberta. However, the C$ is in an ever tightening range that we believe will be resolved to the downside.
The US$ is lower overnight on reports of strong growth in China that might lead to longer trade negotiations. We see the US$ as a buying opportunity as the long-term trend remains towards strength.
The EUR is up this morning touching three-week highs on positive inflation numbers. We see further strength this week and view that as an opportunity to sell.
- Drummond Gill