The USD/CAD pair rose during the session on Friday, testing the highs again. We think that a pullback in becoming but quite frankly that will be value as the US dollar should be strong going forward. That being the case, the market should eventually break out above the 1.15 level, and we think that the 1.12 level should continue to be supportive. The oil markets are not helping the Canadian dollar, so we don’t see any reason why would continue to be strong anytime soon and therefore we feel that going against the worlds favored currency, the greenback, is impossible.
