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USD/CAD Technical Analysis: What Doha?
Commodity Currencies continue to take their cues from commodities (makes sense), and today are seeing multi-month highs. NZD/USD, USD/CAD, & AUD/USD all hit 10+ month highs as the US Dollar pressed further down into new 2016 lows. What amazes many people is that all of this is happening after a weekend where supposedly bad news happened in Doha. On Tuesday morning, we heard from Bank of Canada Governor, Stephen Poloz, who sounded cautious regarding CAD strength. In his speech, interestingly, Poloz noted that CAD strength is less a Canadian story, and more of a Global Macro story, where risk assets like ... (full story)
