Weak energy prices are adding to the Canadian’s woes this morning, although prices wereable to find support at yesterday’s low of 0.9148. While decent Canadian PPI numbers were of little help withputting some brakes on this current downdraft, today’s Canadian GDP number could provide some strength toprices if it can exceed forecasts for a 0.3% month-on-month gain. A rebound to near-term resistance at 0.9168may be on the cards after the North American data window, but the Canadian clearly needs plenty of help fromoutside markets and from improved risk appetites to avoid further chart damage.
