To all the many new friends and followers, to long time friends and followers, thank you. I’m finishing Fed Funds V Inflation and GDP. All in relation to Unit Labor Costs, its fascinating.
USD/CAD is highly oversold. USD/CHF is highly oversold. USD/JPY is not oversold nor overbought. Its just sitting listless. USD/MXN also sits listless. USD/NOK is ready for a giant move. USD/SEK is massive oversold. Not much happening in USD/ZAR.
Above USD/CAD breaks are 1.3145 and 1.3147. At 1.3145 = 592 day average while 1.3187 = 335 day average. Then comes 1.3291 and 1.3434.
In the BOC just released Business Surveys, looks like Poloz at the BOC not only want to raise, but he may be forced to raise. Housing is on Fire but another reason to raise is not seen.
Brian Twomey
