RE:RE:RE:Straight from Michael Dalsinstack,
THe Atlanta FED's GDP now forecast is up to 1.9% for Q2 growth after it nailed the negative growth in Q1. We are having a strong rebound in US growth based upon this Q2 number and Q2 is almost over.
As for the Canadian dollar it was below $.78 in Marchand is now $.81 or about 4% higher. Importantly, given its dependence upon oil prices, oil also appears to have hit a bottom and has rebounded off the lows. The market appears to have put in a bottom meaning there is less fear of a further fall in the C$ because of a further collapse in oil prices.
With the return of growth in the US market interest rates have also been rising after falling with oil prices and growth concerns earlier this year as measured by the US long bond. There is also talk about having to increase interest rates given the return to growth and that interest rates are still near zero. The next move appears up.