No one talking about the move today in the Canadian (and Aussie) dollar(s)? The Aussie dollar has had quite a run. Looking at all the currency charts it looks like the dollar is headed for its late 04 lows for a retest at minimum.
Canuck Buck
Started by
Cirrus
, Mar 20 2007 02:07 PM
7 replies to this topic
#2
mdwllc
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Posted 20 March 2007 - 02:15 PM
No one talking about the move today in the Canadian (and Aussie) dollar(s)? The Aussie dollar has had quite a run. Looking at all the currency charts it looks like the dollar is headed for its late 04 lows for a retest at minimum.
I have C$ turning upward tomorrow 3/21; not sure about the US$ as I usally stay away from it during March because of the volatility from Japanese book closings. Personally, I am waiting to April 4th to establish a US$ position....MDW
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Be Sure to Perform Your Own Due Diligence
#3
Russ
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Posted 20 March 2007 - 02:33 PM
It broke its long uptrend line from 2002 but certainly looks to be strong now, after the Conservative government killed the investment trust legislation the dollar fell hard and some analysts said it was all over for the cdn. dollar. The chart of the cdn and the oil looks almost the same. I am showing commodites are heading higher in the coming years so the cdn. dollar should too, 2011 looks like a possible high for it.
Russ
Russ
No one talking about the move today in the Canadian (and Aussie) dollar(s)? The Aussie dollar has had quite a run. Looking at all the currency charts it looks like the dollar is headed for its late 04 lows for a retest at minimum.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#5
SilentOne
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Posted 20 March 2007 - 03:36 PM
hi mike,
I moved some more $CDN over to our $USD account today. I have been doing this gradually over the last few months. I should have been more aggressive buying USD/CDN at the $1.12 - $1.13 level. That was the 3 year trendline break and backtest region.
cheers,
john
I have C$ turning upward tomorrow 3/21; not sure about the US$ as I usally stay away from it during March because of the volatility from Japanese book closings. Personally, I am waiting to April 4th to establish a US$ position....MDW
I moved some more $CDN over to our $USD account today. I have been doing this gradually over the last few months. I should have been more aggressive buying USD/CDN at the $1.12 - $1.13 level. That was the 3 year trendline break and backtest region.
cheers,
john
Edited by SilentOne, 20 March 2007 - 03:38 PM.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#6
Cirrus
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Posted 20 March 2007 - 04:24 PM
I think some Canadian banks are a good buy here. You get dividends, growth, currency exposure. Basically a little exposure to financials and commodities with a nice dividend, too. Maybe BNS and TD.
#7
PorkLoin
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Posted 20 March 2007 - 07:57 PM
This has taken a long time to come around. Looks good now, but I haven't felt that way since mid-2005, as far as timing. More than half my net worth is invested in Canada.
Very long-term, Canada is a resource-based economy, with a gov't surplus. Well, they say they have a surplus, anyway. Compare that to the US. Heck yes the C-$ ought to go up.
Best,
Doug
#8
SilentOne
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Posted 21 March 2007 - 06:15 AM
hi doug,
I think the $CDN will eventually trade down to the $0.80 level first. Then it could be a trading range between there and the high until it decides to make a run to parity. It could take a while.
We keep our RRSPs and some small accounts in CDN. But our trading/investment account swings between the two currencies.
cheers,
john
I think the $CDN will eventually trade down to the $0.80 level first. Then it could be a trading range between there and the high until it decides to make a run to parity. It could take a while.
We keep our RRSPs and some small accounts in CDN. But our trading/investment account swings between the two currencies.
cheers,
john
Edited by SilentOne, 21 March 2007 - 06:18 AM.
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
