The Canadian, Australian and New Zealand dollars continued to plummet against the greenback.
Oil and gold prices are still softer after yesterday’s sharp slide which is contributing to the weakness of the commodity currencies. If the slide continues, which it could just on a short term basis as hot money takes profit, the Australian, New Zealand and Canadian dollars could continue to suffer. Canadian leading indicators and international securities transactions were weaker than expected, which is hardly surprising given the growing strains in the Canadian economy. Gold and oil markets are closed tomorrow, which means that there could be comparatively limited volatility.
