Usd/cad

Anyone shorting here?

 

no, all you forex traders should buy buy buy!!!!

I'm looking for a better exchange rate...
I'd like to see it go to 1.163 or so...

mnx

 

short @ .1634, stop .1651

 

don't like where this is heading closed at .1640

 

I think that is a good trade Kin. If you look at the hourly chart - the price has made three pushes higher, but RSI and MACD have made 3 lower highers - indicating an unwillingness to chase higher prices. This is also against a backdrop when the $ has hit weekly highs on CHF, GBP and EUR, and Gold. I think a retrace to .1605 is on the cards, with a move to the mid 1.1550s very possible soon.Watch out later in the day when people square their positions.

 

I might try to get in a little later.

 

arugh!!

i'm going back 2 bed

 

short .1630
stop .1740

 

http://www.thestar.com/NASApp/cs/Co...771&call_pageid=968350072197&col=969048863851

Jobless rate hits record low
Mar. 10, 2006. 10:25 AM
CANADIAN PRESS


OTTAWA — A booming economy in Western Canada and a rise in part-time work pushed February’s jobless rate down to 6.4 per cent, matching a 30-year low set last November, Statistics Canada said Friday.
The economy added a net 24,700 jobs last month — although most were part-time — to reduce the unemployment rate from January’s 6.6 per cent.

Analysts had predicted a stable jobless rate and now say the robust report could increase inflation fears and put pressure on the Bank of Canada to consider more interest rate hikes.

“I think there are more pieces of good news here than bad news,” said Doug Porter, deputy chief economist with BMO Nesbitt Burns.

The drop in the jobless rate is “unambiguously” good news, led by the booming West, but the drop in full-time employment and continued weakness in central Canada is a concern, he said.

Energy-rich Alberta saw a 0.3 percentage point drop in its jobless rate to 3.1 per cent, a 30-year low for the province, which reported about 25,000 new jobs last month.

And British Columbia saw its jobless rate fall to a three-decade low of 4.8 per cent, thanks to strong growth around the capital city of Vancouver.

Ontario’s unemployment rate dropped to 6.2 per cent, down 0.3 percentage points from January, but that was mainly due to a reduction in the number of people looking for work.

The province actually lost about 17,000 jobs last month.

Overall, employers added 56,300 part-time jobs in February, while shedding 31,600 full-time workers, according to the statistics agency.

The number of people looking for work also dropped last month, with about 18,000 potential employees leaving the workforce. Another 1.1 million Canadians were still looking for employment in February.

Over the past year, employment across Canada has risen by about 275,000 new jobs — a 1.7 per cent gain — almost half of which were seen in B.C. and Alberta.

The jobs report seemed to halt a steady slide this week in the Canadian dollar as it rose 0.03 of a cent to 86.13 cents US.

After hitting a 14-year high close of 88.39 cents US late last week, the currency has been steadily declining, weighed down by weaker energy prices and belief that the Bank of Canada may be near the end of its interest-rate tightening cycle.

The U.S. unemployment rate inched up to 4.8 per cent last month from 4.7 per cent in January, the U.S. Labour Department said Friday.

The small increase came as more job-seekers flooded the market there absorbing, more than 243,000 new positions.

Canada’s employment picture may not be quite that strong.

But the broad national trends, reflected in the drop to 6.4 per cent unemployment, will likely convince the central bank that the risk of inflation still remains — which means tighter monetary policy, said Marc Levesque, chief fixed income strategist with TD Securities.

“We still believe that the risks are tilted towards a final rate hike in April.”

The Bank of Canada has raised its key policy interest rate at five consecutive opportunities — most recently, last Tuesday — to 3.75 per cent as it tries to keep inflation from catching fire.

In its latest statement — several days before the latest jobless figures became known — it hinted that its work might almost be finished.

That had raised questions as to whether the central bank will increase its key rate at its next opportunity in late April.

Rising wage pressures could eventually add to pressure for even more rate increases, said Porter.

Alberta’s hot economy is pushing up salaries in the province — the average hourly wage has jumped by 6.1 per cent over the past 12 months, well ahead of the national average of 3.3 per cent, Statistics Canada says.

And if the western Canadian boom continues, it could fuel higher inflation and eventually force rates above the four per cent maximum which financial markets now expect, said Porter.

“Because we do have two very strong hot spots (Alberta and B.C.) it does somewhat increase the risk from inflation for the country as a whole,” said Porter.

“We haven’t seen it yet, but it does bear watching as 2006 unfolds.”


Jobless rate by city
The unemployment rates for major Canadian cities: (Previous month in brackets.)

St. John's, Nfld. 8.7 (8.4)

Halifax 5.1 (5.3)

Montreal 9.6 (9.5)

Ottawa 5.0 (5.2)

Toronto 6.7 (6.5)

Winnipeg 4.3 (4.2)

Regina 4.9 (4.9)

Calgary 4.0 (4.4)

Edmonton 4.0 (4.3)

Vancouver 4.9 (5.0)


=======================================
I was gonna call it a day but once I read this I knew I had to get back in.

 

Just when you thought you'd seen it all....

Ivan goes short @ the rejection of .1650 (short entry @ 1.1630).