No one’s buyin’ what Canada’s sellin’. That’s the message from the IMF’s annual report. It notes Canada’s reliance on exports, especially on exports to the US. No Surprises there. As a result, downside risks predominate.
USD/CAD has rebound ed back onto the 1.2800 handle as the dollar slide has been arreested in early New York trade despite US stocks trading firmer after an early dip. They are now up 1.3%.