Entries Categorized as 'USD/CAD'

Canadian Dollar Hits 1.30 Target

Date March 9, 2009

I have been very bearish the Canadian dollar for the past few weeks, calling for a move to the 1.30 level on my blog and on Canada’s Business News Network. I am in Chicago for the day so I won’t be blogging much. As promised, the break of 1.30 was fierce with USD/CAD racing to […]

Canadian Dollar Hits Targets

Date March 3, 2009

After the Bank of Canada cut interest rates by 50bp this morning, my target of 0.8350 in AUD/CAD has been reached. Yesterday, when the currency pair was trading at 0.8122, I argued that the possibility of the Reserve Bank of Australia leaving rates unchanged and the possibility of the Bank of Canada being more dovish […]

USD/CAD: Headed to 1.30?

Date March 2, 2009

In the middle of February, when USD/CAD was trading at 1.2515, I talked about how it could hit 1.28. Now that this target has been reached, the move could extend to 1.30. At the time, I argued that the shrinking trade deficit in the US and the first trade deficit for Canada in 32 years […]

USD/CAD: Headed Higher?

Date February 11, 2009

The US and Canada both released trade numbers this morning. The US reported a smaller trade deficit while Canada reported a larger one US Trade Deficit Shrinks, Canada Reports First Deficit in 32 Yrs. Here are the trade charts courtesy of FX360.com (each piece of economic data has historical charts) The currency to watch is […]

What’s Behind the Sell-Off in USD/CAD?

Date January 28, 2009

The biggest mover this morning is the Canadian dollar which has rallied close to 300 pips against the US dollar and is closing in on the 1.20 level. What’s behind the move? 1. Major merger and acquisition flow. Mexican breadmaker Bimbo closed on a $2.38 billion acquisition of U.S. Bread making unit of Canada’s George […]