12 big figure move on $CAD and 25 bps rise = big tighteningThe Monetary conditions index ( composite of loonie and interest rates ) has seen a huge tightening during the last month. We expect the BOC to lighten up a bit on their rhetoric so that manufacturers and exporters don't get squeezed too much. We have been bearish on the $US for all of 2017, but we sent a note to our trading buddies this AM, relaxing our bearish view on the greenback. Technical indicators are over sold on the greenback, and with most traders on one side of the boat....