The USDCAD has traded within a 150 point range since the beginning of March, and will likely stay that way in near term. Even with oil’s 40% price jump, the USDCAD has barely responded as Canada’s economy appears to have stalled in its tracks, the housing market is barely breathing, perhaps it is time for all levels of government to re-evaluate their taxes and mortgage funding formulas before there is a serious drop in house prices that effectively wipes out a lot of home owners equities.
Currently Close Range
USDCAD 1.3355 1.3367 1.3346-1.3403
EURCAD 1.5080 1.5110 1.5078-1.5154
GBPCAD 1.7425 1.7513 1.7419-1.7540
Prior Actual
CA: Manufacturing Sales February M/M 0.8% -0.2%
Y/Y 4.4% 0.9%
US: Industrial Production March
Production M/M 0.1% -0.1%
Manufacturing M/M -0.3% 0.0%
Capacity Utilization 79.0% 78.8%
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