Canada's had a rough ride the last little while and it started with the March Bank of Canada meeting.
More Quotes from Steven Butler:
It had a really good try below C1.15 earlier and failed. We've had some pretty wild ranges in the last couple of days, so I'm not surprised to see a little bit of a breather.Steven Butler
Certainly the commodities are causing a little bit of concern to the Canada bulls, but I think it's just a little bit of a short-term story.
Steven Butler
I think we needed a little pause from the (U.S.) dollar selling and we certainly got it today. The commodities led the way.
Steven Butler
It's really endurance to go up (the hill). That's what made it different it was harder than I thought.
Steven Butler
It's almost a bit of exhaustion on the (U.S. dollar) side and obviously a bit of a bounce in some of the commodities today.
Steven Butler
The Bank of Canada was as positive as they could have been without scaring us, which they could have done with chatter about the currency. That bodes well for more Canada (dollar) strength. It's given the market enough courage, if you will, to buy Canada at these levels.
Steven Butler
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