Market Comment Canada (TSX 14105)

Canadian Dollar Futures (0.9183 U.S.)

On Friday, the Canadian Dollar closed at what some have described as a thirty-year high. (I go back further than thirty years, and I can remember when the Canadian Dollar (the Loonie) was at par with the U.S. Dollar). We are entering the "summer doldrums" as I write, and I will be pleased if the Loonie loses short-term momentum soon, and trades sideways to reflect this reality.

The TSX also needs a summer rest period as I see it.