Ya, ya, ya. So interest rates in Canada might go up. I believe that is already figured into the price of the currency. Still accumulating.
Unsure how Bush's SPR incentive will affect this cross, as you'd expect crude to fall long-term. But as crude is so tight, the effect might be short lived. If he wanted the price of oil to be low, why did he try and liberate iraq?
If this drops into the .1200's, I will enter heavy! YeahIKnow, are you going to re-enter this cheap play? Sorry to hear you got taken out... -Kastro
Kastro, I think the action is elsewhere at the moment. But I agree with your sentiment on USD/CAD. I was surprised how good the numbers on confidence and home sales were today. Coupled with a rise in the 10yr. I think the market has underestimated the strength of the US economy, and I think it will surprise further. Interestingly, a lot of crosses are at, or near highs today Eur/GBP/AUD. They wont get any further without poor US data, and I think it will be better than expected.
No, I think the action is in EUR/USD, GBP/USD and AUD/USD. USD/CAD seems to be constrained by whats happening on other crosses at the moment.
^ yeah right. .1260 thank god I wasn't long. But as soon as this free fall stops over I'm gonna jump right in. WHAT A BARGAIN!!