USD/CAD at 1.2425 is pretty much where North America left off Wednesday and Europe started today. One thing remains pretty consistent at present; everytime we pop above 1.2500 we run into renewed “corporate” selling and we don’t stay above said level for long.
Meanwhile Quebec has announced it will run a budget deficit in the next fiscal year as a result of the worsening global crisis. The provincial government had pledged in an election campaign late last year to stay in surplus. But hey, what you gonna do. We live in extraordinary times and many a promise will have been broken.
