Markets in FX reveal the global panic and fear in assets. CHF and JPY gained, AUD, NZD and CAD lost. Oil is down almost $4; Gold up almost $42. News set overnight focuses on the Japanese insurer going under, Libor going up again to highest levels of the year; GE profits meeting forecasts; Canadian employment [...]
Entries Tagged as 'Foreign Exchange Market'
FX Trading Strategy – Fear and Burn out
October 10th, 2008 · No Comments
Tags: FOREX Market Update
Canadian Dollar Morning Comment - October 10 2008
October 10th, 2008 · No Comments
USD/CAD traded in a relatively tight range overnight, avoiding the bulk of the most recent bout of intense retreat from risk.
Canadian employment posts a shocking gain of 106.9K, which is cause for high-fives all around, but does not change the fact that the macroeconomic outlook remains an intensely challenging one for CAD.
FX Bottom Line: USD/CAD [...]
Tags: USD/CAD
The Global Economy and CAD
October 10th, 2008 · No Comments
FX Bottom-Line: CAD remains a currency linked to the global economic cycle. With the a global recession as the base case scenario, a key fundamental backdrop for Canada’s terms of trade and CAD is fast deteriorating. Canada’s much improved economic fundamentals might prevent an uncontrolled descent, but cannot prevent the inevitable, which is a weaker [...]
Tags: USD/CAD