Canadian Dollar price action has been mixed so far this week with the Loonie gaining ground against the Greenback but weakening relative to the Japanese Yen and New Zealand Dollar. USD/CAD has declined roughly 50-pips from last Friday’s close with CAD/JPY dropping by a similar magnitude. NZD/CAD continues to climb with spot prices up about 60-pips week-to-date. That said, in addition to the direction of crude oil prices, the Canadian Dollar appears predominantly driven by performance of its FX counterparts. {chart} USD/CAD price action has edged lower largely on the back of broad-based US Dollar weakness. The major ... (full story)