Commodity currencies are being hit particularly hard but other currencies are holding up well as interest rate expectations for the other two regions are rising.
More Quotes from Carolyn Kwan:
We've had quite a significant appreciation this week, and I think this is sort of a holding pattern before we get the Bank of Canada next week.Carolyn Kwan
Even with the Canadian dollar appreciating some 6 U.S. cents through the year, both exports and imports in 2005 surged to record high levels.
Carolyn Kwan
The overall tone of the report is pretty mediocre at this point.
Carolyn Kwan
The Bank of Canada has talked about the risks to 2007 on the downside. We would see the Canadian dollar weakening.
Carolyn Kwan
Everything this week is going to be hinging on the Bank of Canada early on -- there are also some important data points which should be supportive overall -- but the question really is the statement.
Carolyn Kwan
The main factor behind the Canadian dollar appreciation is likely the expectation of tomorrow's Bank of Canada statement accompanying the widely expected hike.
Carolyn Kwan
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