With a slight tempering of global macro economic optimism, weaker energy and metalsprices, the Canadian appears to have stalled on the charts. While the Canadian might see a knee jerk reaction offtemporary support from softer than expected US retail sales readings later this morning, too much weakness inUS data, might not be positive for the Canadian over the longer term. However, the real focus of the Canadiantoday might be Canadian new housing price Index readings. In fact, with the March Canadian up impressivelyfrom the January lows, a softer than expected Home price result today could catch the Canadian overbought.
