CAD (Canadian Loonie)

Re: Canadian Dollar ( Loonie )

Postby LenaHuat » Fri Oct 23, 2009 6:15 pm

I read AirFlownAussiePork's post in the "Australia" thread.

IMHO, his points abt the Aussie$ applies to the Can$$ too. Congrats to Winston who has a position on the Loonie.

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Re: Canadian Dollar ( Loonie )

Postby winston » Sat Nov 21, 2009 9:56 am

Sold all my CAD on Nov 16 so that I have more capital to stag on the HK IPOs. Longer term, I think Commodity Currencies will still do well but I'm focussing on the short term now. Still have a fairly big position on AUD & EUR

====================================================

Canada Dollar Falls a Fourth Day as Investors Shun Oil, Stocks By Chris Fournier

Nov. 20 (Bloomberg) -- Canada’s dollar depreciated for a fourth straight day, the longest losing streak in more than two months, as global stocks and crude oil dropped and the U.S. currency rose against most of its major counterparts.

“Equities are continuing yesterday’s sell-off,” said Michael Leavitt, a Montreal-based institutional-derivatives broker at MF Global Canada Co. “Crude coming off more than $3 in two days is also pressuring the Canadian dollar.”

http://www.bloomberg.com/apps/news?pid= ... p1hKZUhaJY
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Re: Canadian Dollar ( Loonie )

Postby winston » Thu Mar 04, 2010 9:13 pm

Not vested.

WANT A HARD-ASSET-BACKED CURRENCY? HERE IT IS

Yesterday, we studied the horrible price action in the British pound... one of the worst-performing currencies in the world. Today, we study a currency enjoying a far different fate: the Canadian dollar.

Traders call the Canadian dollar a "commodity currency." Reason is, a large portion of Canada's economy is devoted to exporting commodities. Canada is the sixth-largest oil producer in the world, and the No. 1 foreign supplier of oil to the U.S. Canada is also a major producer of gold, copper, wheat, aluminum, and timber.

This "resource factor," plus the soundness of Canadian banks, has sent the Canadian dollar soaring... while the British pound and the euro are tanking. The value of the "Candol" has gained more than 20% in the past 12 months. This is an enormous move for a major currency.

Many people would like to see a world with currencies backed by "real assets" like gold and silver... rather than ones backed by "full faith and credit." That might happen someday. But for now, the Canadian dollar is about as close to a "backed by hard assets" currency as you can get. This underpinning of value supports the uptrend you see below.

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Re: Canadian Dollar ( Loonie )

Postby kennynah » Mon Apr 19, 2010 12:14 am

The mountain rangers will be announcing interest rates on Monday .. This may affect /DX trade, so take care
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Re: Canadian Dollar ( Loonie )

Postby kennynah » Mon Apr 19, 2010 11:28 pm

my apologies... canada is announcing their IR policy on 20apr (not today)
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Re: Canadian Dollar ( Loonie )

Postby iam802 » Mon Apr 19, 2010 11:35 pm

kennynah wrote:my apologies... canada is announcing their IR policy on 20apr (not today)


When I first read the term 'IR policy', my first thought was casinos.

Not very good. Seems like the term IR is being abused by a certain gahmen that likes to use abbreviation a lot

Note:
- the part on the gahmen using lots of abbreviation ... that's the impression my overseas friends have on SG
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Re: Canadian Dollar ( Loonie )

Postby kennynah » Mon Apr 19, 2010 11:38 pm

hahahaha..... uniquely singapore... 8-)
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Re: Canadian Dollar ( Loonie )

Postby eauyong » Tue Apr 20, 2010 6:40 pm

Coming to your screen: CAD, Bank of Canada Interest Rate decision at 21:00 :)
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Re: Canadian Dollar ( Loonie )

Postby winston » Tue Apr 27, 2010 9:31 pm

OUR FIRST STOP ON THE "WORLD CURRENCY TOUR"

This week is "currency week" in Market Notes. Each day, we'll take a different stop on a global currency tour to gauge the state of the world. Our first stop is Canada.

A nation's currency is like a rough "stock price" of that nation. Generally speaking, if a country manages its finances well and engages in productive behavior, its currency appreciates over the long term. If a country racks up crazy debts and runs its finances like a drug addict, its currency depreciates over the long term.

As you can see from today's chart, Canada is doing a good job of managing its affairs. The country's banks didn't take on the ridiculous risks, like the ones in Iceland, the U.S, and the U.K. did. Canada's economy is also heavily tilted toward natural resource production… raw materials including oil, natural gas, timber, copper, uranium, and gold. These materials are up big in the past year.

All of this has come together to produce the steady uptrend you see below. The "loonie" has appreciated 28% since March 2009… a huge gain in value for a major currency. You want money backed by "hard assets" like gold and oil? You want the loonie!

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Re: Canadian Dollar ( Loonie )

Postby kennynah » Tue Apr 27, 2010 9:47 pm

CAD has been strong...

and if CL goes up... you can expect CAD to be stronger..
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