CAD Mid-day Analysis

Vulnerable chart action overnight would seem to leave the C$ in a downward track today. The bulls might hope for a lift off rising geopolitical angst in the US but we can’t rule out at least a temporarydecline in the December Canadian back to 87.75 which in turn would violate a two week old up-trend channelsupport line. The biggest impact on the Canadian this morning will probably be the US initial claims results.