Apparently a decline in December Canadian building permits yesterday wasn’t thatconcerning to the Canadian, as prices have generally respected a quasi double bottom support level of 89.81.However, a slight improvement in overall global economic views has given the Canadian a slight bid but it couldtake ongoing gains in equities and positive US data that is not too hot and not too cold for the Canadian tocontinue to grind out slow and hard fought gains. Unless there is a major slide in the US Dollar ahead, we aren’tsure we see the justification for a major Canadian Dollar low.
