The Canadian, Australian and New Zealand dollars are all up strongly on the back of broad dollar weakness and rising commodity prices.
The biggest market mover today on a percentage basis was USD/CAD which fell more than one percent. There was no meaningful economic data released from any of these 3 countries and tomorrow we only have tier 2 economic data which includes New Zealand building permits and business confidence. This means that any further appreciation in the commodity currencies will be driven by commodity prices, sentiment and the US dollar. For the time being, we see no reason for the current trends to change.