We think the Bank of Canada might tone down its rhetoric.
Energy prices are coming off, mitigating the positive effects of the current account number. The Canadian dollar is still closely tracking energy.
People are buying the U.S. dollar across the board on expectation of further rate hikes. Rate expectations in Canada have come down. You will see more U.S. dollar strength on the yield gap.
I have times when I despair, and I cry. There are moments when I want to give up. But my husband needs me. So I get up for one more day.
It definitely seems like an energy story.
Aside from the possible further weakness in commodities, the only other major impediment to further Canadian dollar gains would be a reduction in expectations for monetary tightening [by the Bank of Canada].
Who's going to come to a hotel over here? This is not Las Vegas, this is not Atlantic City, this is not Reno - this is College Point, a family oriented neighborhood.
We don't expect the U.S. dollar rally to be a long lasting thing. The bigger trend is still Canadian dollar strength.
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