Canadian dollar was big news on the day as the underlying currency strengthened against the US dollar in the London and New York session. Both Aussie and Kiwi remained in relatively the same ranges from last week, priced at 0.8217 and 0.7295 respectively.
Dropping through the 1.0950 figure, the USDCAD currency pair was able to plummet through to trade to a 30-year low of 1.0825 over the last 24 hours. Although warranting plenty of intraday attention, the move wasn?t that much of a surprise as price action was a simple reflection of further momentum stemming from Friday?s surprising retail sales figures. A recap, for the month of March, retail sales in the world?s ninth largest economy advanced by an impressive 1.9 percent, over consensus figures of a 0.8 percent advance. Incidentally, along with other economic data over the past couple of months, speculation is now mounting on the possibility of rate increases on the horizon.