The USD/CAD pair initially fell during the day on Wednesday, but found more than enough support as the 1.35 level is now offering support. It was previous resistance, so this goes well with common technical analysis theories, and as a result we believe that buyers are simply taking advantage of value when this market pulls back. We are in a longer-term “buy-and-hold” type situation, especially considering that oil markets look like they are ready to fall apart yet again. The US dollar continues to be the strongest currency that we follow overall, and of course Canada is suffering due to the soft petroleum markets.
