Canadian Dollar

The Canadian Dollar is one of the stronger major currencies right now (ranked #3 of 8), with a strength score of +6. It tends to do well when markets feel confident, and the mood is upbeat right now — a tailwind. It also earns a lot from exporting oil, and firm prices for those are giving it an extra lift. A softening economy, with unemployment creeping up, is another weight on it. It has held fairly steady over the past few weeks.