Canadian markets closed on Monday

Monday is Canada Day as the country celebrates 152 year of independence from Great Britain. That means liquidity will be thin and moves could be whippy.

The holiday is one reason why USD/CAD may be unwilling to break down below the January low of 1.3069. It got down to 1.3060 but has quickly bounced to 1.3090.

Monday could end up being a rough day in CAD-land if something notable happens with Trump and Xi at the G20. There's also the US ISM manufacturing report, which is shaping up to be ugly.