Canada Existing Home Sales M/M (Feb): -9.1% (est -4.0%, prev 3.6%)

Do you think that the house ATM is also running dry in Australia and the USA?

why CAD too much of drop ?

Close at 1.3400 would confirm near term daily cycle low. 1.3300 becoming strong support as consequence.
USDX 96.50 some support building 96.00 strong support.

Cad, considering how critical home equity is to ability to spend this is poor news for BOC

add: severe weather is a factor here but if this continues then...., enough said

Canada has had a robust housing market which in turn makes consumers spend as they feel wealthier.
Weak housing data takes out price increases and if anything will cause prices to fall which directly impacts consumer ability to spend.
Housing has been the strong factor in Canadian economy. Take that away and kiss the future rate hikes goodbye and possibly easing to come from BOC

The Loonie selloff began in the first hours of the European session - across all pairs. Put that in your pipe and smoke it for a while. Come to your own conclusions.

The "house" atm is running dry.