With the Canadian recovering from a short term oversold technical condition at yesterday’s lows, the potential for a resumption of a slide in the exchange rate is improved. Reports that the Russian food import ban will negatively impact the Canadian pork industry increases the importance of Canadianbuilding permits figures later today. The Canadian will also see some private PMI results and for the Canadian tothrow off its liquidation bias and climb above critical pivot point resistance (quasi double top zone) of 92.63, thetrade needs to see some positive economic news flow from Canada this morning.
