When something can't fall on bad news...
It's a tough day to draw conclusions in the forex market because flows at the start of the month can skew the market. There was talk about heavy leveraged fund selling in USD/CAD and that may continued to be the case.
That said, it's impressive that USD/CAD is lower today despite a drop in oil prices. Crude bounced off the session lows in the past few minutes and USD/CAD has responded with a quick drop down to 1.3950 from 1.4000.
That's the lowest since Jan 5.
