The Canadian, Australian and New Zealand dollars all gave back some of their recent gains today on the back of carry trade liquidation.
The Dow ended the US session up 46 points, but sharp intraday volatility has weighed heavily on the commodity currencies. Gold and oil prices are higher and there was no major economic data released from any of these 3 countries. Canadian employment and housing starts are due for release tomorrow. The sharp rise in the employment component of IVEY PMI and a jump in building permits suggest that we should see bullish Canadian numbers.