The Canadian dollar story today is resilience as it keeps pace with US dollar despite another 5% plunge in oil prices.
Generally, that kind of resilience is a bullish sign but with the Canadian dollar falling to a six-year low on Friday, it’s more-likely a case of consolidation.
Overall, I don’t trust any moves this early in the year.
USDCAD weekly
There isn’t a great deal of talk about the prospect for loonie weakness in 2015 but stars are aligned for a tough year.
