It should come as no surprise that the percentage of Canada’s productive capacity fell in Q4 2008, to 74.7% from 78.1% in Q3. This was the lowest reading in the 22 year history of the series.
The Loonie is firmer this morning, reflecting continued reflation and broad dollar weakness. We trade now at 1.2670 from lows of 1.2640 ealier. 1.2634 is key support, the Friday morning low. 1.2535 is trendline support below the market.
