We didn’t even need to look at the Canadian chart this morning to know that it was under fresh pressure as the global macro-economic view continues to deteriorate and that in turn stokes pressure oncommodity currencies and on economies that rely on physical exports. We doubt that the December Canadianwill be able to hold initial support of 89.74 (yesterday’s lows) and under a continuation of slackening global growthviews and an ever soaring US $, traders should not rule out an eventual Canadian trade of 89.00.
