It’s almost as if the markets are in disbelief about the economic numbers.
Having had a chance to look through them, their isn’t a grand mitigating factor. They’re bad.
With all the liquidity sloshing around moves aren’t always straightforward. But that isn’t the case for CAD.
It’s a currency that needs growth, especially US growth. Yesterday’s USD/CAD high of 0.9860 is 10 pips away. Corporate seller said to litter the order book up to that level but it might be smooth sailing above. Bids at 9815.