Canadian Dollar Futures Were Sharply Lower Today

Canadian Dollar futures were sharply lower today, as a sharply higher U.S. Dollar and perceived dovish comments from Bank of Canada governor David Dodge weighted in the Loonie. Today's sell-off erased yesterday's gains caused by a higher than expected Canadian retail sales report. After the report was released, Bank of Canada governor David Dodge dismissed analysts expectations of another interest rate increase in July by suggesting the BOC will not swayed by one month's worth of data. Read More....