Short-term pullbacks offer the possibility of finding value in the greenback, now I think that it’s likely that we have a “buy on the dip” mantra going forward.
- The USD/CAD has rallied a bit during trading on Thursday, which is a simple continuation of the overall trend that we have seen against most currencies, including the Canadian dollar.
- The Canadian dollar is highly influenced by a lot of different things, not the least of which would be the oil market. We also must worry about the Toronto housing market, which is starting to fall apart, as well as other bubbles in the Canadian economy.
- Regardless, this is a market that I think will see a lot of US dollar strength.