The number won't help the Canadian dollar. We may see further weakening. A softer number provides no reason to go and buy the Canadian dollar.
More Quotes from Reid Farrill:
Commodities prices are lower, which could be slightly negative for the Canadian dollar. The market is a little bit on edge as they wait to see what Dodge has to say about interest rates.Reid Farrill
International investors will always look for surpluses. If Canada continues to run surpluses, the fiscal program and a good economy and commodity prices will keep a luster on the Canadian dollar.
Reid Farrill
Some in the market felt that Canada had declined enough versus the U.S. and it was time to take some profits. The Canadian dollar is starting to look cheap.
Reid Farrill
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