May 27, 2010
The Loonie put up a good fight against the greenback yesterday, pushing the USDCAD to a low of 1.0581. No economic reports were released from Canada in the past 24 hours but let's check out what's in store for today!
Canada's economic schedule is free from high-impact reports again, with only the quarterly corporate profits report on tap. Corporate profits were up by 7.9% in the past couple of quarters and another rise could be seen for the first quarter of this year. Of course, higher profits could lead to increased hiring and investment for Canadian firms, which would be good for their economy.
"The only cable I watch is the pound baby."