Germany’s unemployment rate fell to 7.6 percent for the month of July from 7.7 percent the previous month to mark the lowest since November 2008. At the same time, the number of people out of work tumbled 20K, following a revised 20K decline in June.

The three month euribor rate rose to 0.889 percent to mark its highest level since July 31st, 2009 after climbing for 41 straight days.

German investor confidence for the month of July fell to 21.2 from 28.7 the month prior to mark its lowest level since April 2009.

Ever since the EUR/CHF broke through the 1.5000 level in late 2009, the pair has been making a series of lower highs and lower lows.

I expect that the USDCAD will find a secondary low ahead of 10134...and ideally close to its current level.