Some jitters about Canadian house prices and broad risk aversion are weighing on the Canadian dollar. The CMHC, which is Canada’s Fannie/Freddie showed its holding $570 billion in mortgages, up 10% y/y.
USD/CAD is a dip-buyers’ market and there is corporate sell interest starting at 1.0300 to 1.0360. Given the broadly negative (and worsening) sentiment, there is no reason to be short.
