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Daily Market Commentary

While today is quiet, the data hits the market starting tomorrow and continues all week.  CPI numbers in the US and Canada will be out tomorrow and Wednesday respectively.  Bonds are trading accordingly and we've seen very little change in the Treasury or GoC market.

 

The CAD$ is strong around the world this morning, rising against all the majors.  Oil trading back up slightly has given us a bid, and last week's weakness seems to have been forgotten already. It is hard to say whether or not the bull correction has run its course yet, having retraced to about 1.1160 on Friday after briefly touching 1.0999, but the rally that lasted almost a full month without any down days has been broken.

 

More comments tomorrow with the CPI release.

 



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