Perhaps the Canadian is catching some spillover support from improving attitudes towardthe UK and US. Maybe the Canadian is simply technically oversold and temporarily unable to fall further. It is alsopossible that the Canadian is getting an indirect lift from rising inflation levels in fellow commodity currencyAustralia, but so far there doesn’t appear to be a major fundamental factor to suggest that a major low is in! On arally, we will begin to suggest some calendar call spread plays that could offer a cheap and defined look at thepotential for a longer term bottom forming in the months ahead.
