CAD (Canadian Loonie)

Re: Canadian Dollar ( Loonie )

Postby winston » Sat May 01, 2010 11:22 am

Not vested.

Canada Dollar Falls Most in a Week Since January as Stocks Drop By Chris Fournier

April 30 (Bloomberg) -- Canada’s dollar registered its biggest weekly drop since January as a fall in stocks overshadowed a report that showed the nation’s economy grew and signs that Greece may reach an agreement on a rescue package.

The currency, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, fell for the first time in three days. It weakened from the one-for-one level that it reached on April 6 with its U.S. counterpart for the first time since July 2008. Equities slid as criminal investigators scrutinized Goldman Sachs Group Inc.

“The Canadian dollar has fallen out of favor in today’s trading,’’ said Tyson Wright, a Victoria, British Columbia-based senior currency trader at Custom House, which handles foreign- exchange transactions. “People are taking some profit and re- evaluating. It’s a consolidation pattern just above par.”

Canada’s currency depreciated 1.1 percent to C$1.0162 per U.S. dollar at 4:09 p.m. in Toronto, from C$1.0052 yesterday. It tumbled 1.7 percent for the week, the most since the five days ended Jan. 22. One Canadian dollar buys 98.41 U.S. cents. Government bonds climbed.

The loonie gained last week as the Bank of Canada signaled that interest rates will rise, possibly as soon as June 1. The bank held the benchmark rate at a record low 0.25 percent while dropping a conditional commitment to keep it there through June.

Mark Carney, the central bank governor, modified his language this week, spurring speculation that markets may be pricing in too much chance of an increase at the June 1 rate meeting. Carney said in testimony at Parliament that “going forward, nothing is pre-ordained.”

Sixth GDP Increase

Gross domestic product increased 0.3 percent in February, the sixth straight rise, Statistics Canada data showed today in Ottawa. The result matched the median of 21 estimates by economists surveyed by Bloomberg News.

Canada’s government bonds advanced, pushing the yield on the benchmark 10-year note down eight basis points, or 0.08 percentage point, to 3.65 percent. The price of the 3.5 percent security due in June 2020 increased 65 cents to C$98.77.

http://www.bloomberg.com/apps/news?pid= ... 145KZ02rWI
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Re: Canadian Dollar ( Loonie )

Postby kennynah » Sat May 01, 2010 8:46 pm

CAD is strong...when i looked at it on Fri afternoon...it was 1.006...wow...almost on par... and this is reflective of the relative immunity from the subprime loan and CDOs issues...of cos, with oil climbing slowly again... canada will stand to gain in her loonie
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Re: CAD

Postby winston » Sat Jan 29, 2011 1:23 pm

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Canadian dollar

– Also speaking in Davos, Switzerland at the World Economic Forum by was Bank of Canada Governor Mark Carney who warned over the threat to economic growth from a persistently strong Canadian dollar.

He welcomed signs of U.S. economic recovery as “very welcome” and supportive of further output expansion in Canada.

But he also served up warning that emerging market governments must continue to act against expansion through raising monetary policy further.

Mr. Carney warned that the expansions in some venues was likely to be unsustainable thereby posing a threat to the global economy.

The Canadian unit is lagging the greenback today at $1.0050 U.S. cents.

http://www.dailymarkets.com/forex/2011/ ... l-corners/
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Re: CAD

Postby winston » Sat Jun 04, 2011 8:43 am

If you're looking for a safe haven from the dollar, don't count on Canada
From Resource Investor:

We often hear of people who denounce the U.S. dollar and correctly divine that it is headed to worthlessness. But in the same breath, they say they own other fiat currencies like the Canadian dollar.

There are numerous reasons why the Canadian dollar will not survive a US dollar collapse:
1) The Canadian economy is very tied to the US economy.
2) The Canadian Government is intent on devaluing the Canadian dollar alongside the US.
3) The Bank of Canada has virtually no gold backing the Canadian dollar.
4) All that does back the Canadian dollar is the US dollar and other fiat currencies.
5) The Canadian dollar is not used globally.

http://resourceinvestor.com/News/2011/6 ... lapse.aspx
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Re: CAD

Postby winston » Mon Jun 17, 2013 7:53 pm

A Safe Place for Your Cash… OUTSIDE the U.S. Dollar By Dr. Steve Sjuggerud

Money flows to where it's treated best… that's one of the surest rules in finance.

And it is key to picking currencies.

Right now, money is treated better in Canada than in just about any other major country on the globe. And with the setup we have today, you could make as much as 27% over the next 12 months.

Let me show you what I mean…

Canadian politicians aren't as dumb with their country's money as U.S. politicians are.

For example, there's talk in the government of eliminating its deficit by 2015. No politicians in the U.S. are talking about doing that any time soon.

Also, while central banks around the world have cut interest rates to near zero, Canada has held interest rates at 1%. One percent doesn't sound like much, but behind Australia, it's the second-highest interest rate among major currencies.

In short, Canada is treating money well.

The thing is, investors consider the Canadian dollar a "commodity currency." When commodities are strong, the Canadian dollar should be strong. But lately, commodities are down and gold prices have crashed. So everyone expects the Canadian dollar to continue to fall.

The chart below tells the story. It shows the "Commitment of Traders" (COT) report. This measures real bets futures traders have on the Canadian dollar, right now. When the blue line is high, traders are bullish… When it's low, traders are bearish.

As you can see, the Canadian dollar is hated today. It has only been more hated once in its history… in 2007. From trough to peak in 2007, the Canadian dollar soared against the U.S. dollar…

Everyone is betting against the Canadian dollar… And historically, when you reach points like this – when there's nobody left to be against a currency like this – then it goes up in value.

In my True Wealth newsletter, we're taking this bet…

I recommended buying the Canadian dollar through the stock market… by buying the CurrencyShares Canadian Dollar Trust (FXC).

As I write, FXC is at around $98. Its two-year low is around $94. We can limit our risk to just 3.8% by using $94 as our stop loss.

Compared to that, our upside potential is great… The last time we saw this setup, the Canadian dollar soared 27% in less than a year. We could see a similar return this time around. Heck, I'd be happy to take a 15% gain in less than a year here.

Even with 15%, the "reward-to-risk" ratio on this trade is fantastic… 15% upside with 3.8% downside. That is a 4-to-1 reward-to-risk ratio. That's excellent!

Now is a great moment to get some of your money outside of U.S. dollars. And shares of FXC are an easy way to make the trade. The timing is perfect: Canada is treating money well. And it's as hated now as it was at its low in 2007.

Our odds are about as good as they get in the financial markets… It's time to buy.


Source: Daily Wealth
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Re: CAD

Postby winston » Sat Jun 22, 2013 8:37 am

Is the Canadian Dollar about to get cross checked? by PeterLBrandton

The C-Dollar is attempting to complete a major chart top pattern

The quarterly, monthly and weekly charts all display a possible 42-month H&S top in the Canadian Dollar (futures).

It is often difficult to precisely draw the key boundary lines on such a long-duration and complex pattern.

I have noted the orthodox neckline (using the bar lows) and the neckline from the Friday closes (dashed line).

I believe a close today below 9550 will complete this pattern, although technically the right shoulder low at 9367 must give way for the pattern to be confirmed. The target of the pattern is 8470.

http://peterlbrandt.com/is-the-canadian ... s-checked/
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Re: CAD

Postby winston » Wed Jul 03, 2013 8:31 pm

The Canadian dollar falls to a 21-month low versus the U.S. dollar.
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Re: CAD

Postby winston » Sun Mar 23, 2014 7:41 pm

The Canadian dollar falls to a four-year low versus the U.S. dollar.
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Re: CAD

Postby winston » Fri Jun 06, 2014 8:30 pm

The Canadian dollar is the worst-performing major currency over the past 12 months… down 5%.
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Re: CAD

Postby winston » Mon Jan 12, 2015 9:22 pm

Big Canadian dollar fund FXC sinks to a 52-week low.
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