Like the Pound, the Canadian continues to carve out a pattern of lower highs. Also like thePound, the Canadian into its early July high was emboldened by favorable Chinese growth news and by up-beatUS Non-farm payrolls but seeing noted weakness in global equities, a risk-off vibe and seeing the ChinesePremier suggest that sub-7.5% growth is still acceptable would seem to leave commodity currencies out of favor.We expect more grinding losses in the Canadian ahead.
