Treasury yields are at the lows of the day with 10s down 3 bps to 1.475% as the mood worsens modestly.
In turn, the US dollar and yen are improving against the commodity currencies. That's pushed USD/CAD up through 1.27 as the day's gain reaches 55 pips. Notably though, the oil market isn't worsening.
The pair has risen through the 38.2% retracement of this week's decline and the 50% level is at 1.2730 and the low from Friday's jobs report of 1.2745 will also offer resistance.
USDCAD 1 hour chart
