The Canadian dollar is the weakest performing major today despite the upbeat sentiment in US stocks.
The driver in the past hour has been soft Teranet housing data. Prices rose just 2.0% year-over-year, which is the slowest growth since the recession.
USD/CAD is now at the highest since April 29. The next level of resistance is the confluence of 55-day moving average and the 61.8% retracement of the late-April decline.
