The Morning

Good morning Traders and Canadians!
Looks like we have a lot of news here this morning, and even more this afternoon.
So far the Canadian side of things is looking a little negative with Building Permits (-12.3%) being lower than the prediction (-3.1%), and lower than the previous month (10.5%).

Where as the U.S. is looking more on the Bright side of things with  ADP Non-Farm Employment Change (216K from 173K), Revised Nonfarm Productivity (0.9% from 0.7%), and Revised Unit Labor Costs (2.8% from 1.2%) all going in a positive direction.

So, with these fundamental notes I can wager that USD/CAD market is leaning upwards, the EUR/USD will be leaning downwards, and Crude Oil will be leaning downwards as well (waiting for EIA to show weekly supplies before making a move on that though). Along with any other currency tied in with the U.S. dollar I would expect they would decrease in value today.

Later this afternoon should be more news coming from Europe, Asia, Australia, etc., so if those values are positive I can see them masking the positive data from the U.S.