The Canadian is primarily undermined by the Chinese data “miss” and that suggests thatfavorable Canadian news is secondary to the news flow from China. In short, the Canadian has fallen from favorand might not be able to avert the current slide until prices return to the 90.00 level on the charts. Others suggestthat the down trend in the Canadian is set to continue until the BOC hints at a change in policy or there is a shift inglobal sentiment back toward a broad based risk-on mentality.
