The USDCAD was higher last week as the greenback tried to shake off months of weakness against global currencies. Strong manufacturing data and a drop in the unemployment rate made traders believe that the U.S. economy was mounting a real recovery and the move higher would have had a short-covering element to it. Data out of the Canadian economy also highlighted a strong upturn in the manufacturing sector, which builds on the recovery from a brutal second quarter downturn. Production and order books expanded at the quickest pace in two years and this gives hope that the worst is behind for Canada. The real story for ... (full story)