Two events in the day ahead could make for a volatile day of trading in the Canadian dollar. As the quarter began to wind down on Monday, the US dollar was in heavy demand to lead the way while the Australian dollar lagged. Japanese labor cash earnings and Australian private sector credit are due up next. New Premium trades for the week will released on Tuesday.
USD/CAD rallied for a second day on Monday but it was largely driven by broad US dollar strength. What happens in the day ahead will be critical for the loonie.