The Greek drama continues but we change gears today and take a closer look at the Canadian dollar after a soft GDP report. We also look at the quarter and Japanese Tankan report due later. On Tuesday, the Aussie was the top performer while its kiwi cousin lagged. A new EUR trade was added to the Premium Insights, with 3 charts supporting the technical case. Our long AUDNZD from 1.1100 is 280 pips in the green and nears its final target.
The market moving news on Tuesday was Canadian GDP. It's April data so it's a bit stale but that didn't stop a more than 120 pip move in the loonie. Growth contracted 0.1% compared to +0.1% expected. That left year-over-year growth at 1.2% compared to 1.5% expected.