The top performer this week, in percentage terms was a long CAD/JPY, up 1.8%.
This trade has been a straight shot on lower QE expectations, the oil rally and higher stocks. It comes in spite of weak Canadian jobs and CPI figures.
Technically, the break above the 61.8% retracement points to more gains but the May 8 high is providing resistance. The technicals point higher but the near-term move is overstretched so a move to 79.70 will probably come before a climb to 81.00.
What is your pick for the best trade of next week?