That is obviously a direct driver of inflation. |
The ISM manufacturing number was really stronger than expected. Obviously we've seen a sell-off in the U.S. bond market. As a result of this, people are calling for one or two more Fed moves. |
The stock market declines are a little bit scary. People want to take the dollar weaker. |
We are seeing a little retraction. Some people took profits by selling the Canadian dollar and buying euros. |
We are seeing a lot of new buying of the Canadian dollar. The central bank continues to tighten and everyone is talking about the election. We expect continued strength in the Canadian dollar. |