Hopes the US will not double dip is helping underpin commodity currencies this morning, strengthening an already strong trend. AUD/USD is extending earlier highs (helped by overnight Aussie employment data), now at 0.9270 and USD/CAD is close to trend lows at 1.0320 after breaking important 1.0340 support earlier today.
The majors are little changed after the data, waiting for markets to improve after Labor Day…Oh, wait….After the Jewish holidays then? Mr. Market always has a built -in excuse to do nothing….
