CAD Mid-day Analysis

The Canadian slide this week has been partially the result of renewed strength in theDollar, but it has also been partially the result of sagging growth views toward China. With an extremely activeschedule of reports due out over the coming two sessions, the Canadian might be faced with a key junction.Unfortunately strong Canadian data from building permits and a private PMI report ahead might not be the drivingforce in the Canadian trade, as the US monthly payroll report and the ECB rate decision might dominatesentiment. Pushed into the Canadian we have to favor the downside early today, but the June contract might seestrong support on a return down to 91.00.