Friday's positive job numbers, taken along with Thursday's hawkish rhetoric from the Bank of Canada senior deputy governor and easing comments from the ECB and FOMC, may be distracting from the overall global picture, says TD's Greg Moore. "We've taken a bit of a detour over the past two days," he says. Next week is filled with second-tier data releases and without anything significant or new, expect CAD to continue to feel pressure from the sour state of global affairs, Moore said. "Any short-term CAD moves is like catching a falling knife if you were to move into these levels," he says. Moore advises to wait until there's a slowdown in volatility and watch for equities and commodity prices for a better picture on CAD. USD/CAD at 0.9747, down 0.60%, according to CQG.
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