Commodities are broadly lower today as the dollar recovers a chunk of its recent losses.
CAD must be getting smoked, right? Not so fast…
Traders often sell the dollar and CAD against other currencies to reflect general weakness of the North American economy versus faster growing economies like those in Asia…
That’s all well and good until traders try and clear their books of all their positions at once…AUD/CAD is taking it in the teeth today, helping keep a lid on USD/CAD…