Canadian bakin'?

摘要

After struggling against the dollar for the first quarter of 2009, the Canadian dollar hooked itself back to the resurgent crude oil market.rn"The Canadian dollar is basically trading off of oil prices. This correlation will continue to determine where the currency pair is headed," says Kathy Lien, director of currency research at GFT. "In June, we'll continue to see the outperformance of the Canadian dollar against the U.S. dollar." Lien says that Canada's positive job growth in April suggests that Canada is benefiting from China's appetite tor foreign investments. "China's been increasing their oil resources. Part of the reason the Canadian dollar's going to rally so much is that Canada's participating in that," Lien says. She expects the USD/CAD to break 115, which could lead it to test support at 108.