I spoke with Reuters on Friday about the Canadian dollar and summed up the Canadian dollar story.
“The job numbers were a great chance to assess the strength of the Canadian dollar,” said Adam Button, currency analyst at ForexLive in Montreal. “The Canadian dollar’s inability to gain ground on an excellent job report is overwhelming evidence that the direction for the Canadian dollar is down.”
Button said the Canadian dollar has been caught up in concern about the global economy, specifically about Europe. “It’s clear the crisis in Europe isn’t over and it’s increasingly clear it is getting worse.”
The more I have a chance to digest the market moves on Thurs/Fri, the more that fears about Europe, rather than the end of QE, loom as the major issue.
