Goosed on renewed oil speculation and (in over view misplaced) ideas that Canada might decouple the global downturn and move the BOC to tighten interest rates soon, the Loonie has lifted again with the Euro/equity risk trade over the past 2 months. We saw similar short-lived moves with market peaks in both April and last August. A resumption of Euro troubles and disappointing economic data in September are likely to test the conviction of Loonie longs encore.
Source: Cory Venable, CMT Venable Park Investment Counsel Inc.
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