The Canadian dollar is being carried away by the recent dollar storm, joining its peer commodity currency peers and is losing ground against the greenback, despite the fact that a strong US economy is good for the Canadian one, that Canadian inflation is on the rise and that the Bank of Canada has finally acknowledged this. The weakness in oil prices is a factor that plays against the C$.
CAD/USD is now below 0.90, as USD/CAD tops 1.1111.
For Dollar/CAD, the next big level is 1.1224, which is the cycle multi-year high. Big support is of course at the 1.10 level. For more, see the Canadian dollar prediction.
