Tuesday, April 6, 2010

Canadian Dollar at parity

Well, here we are again, at parity with the USD.  I'm not certain how long this will last, especially if the US Fed minutes today change the wording to show that "extend and pretend" has now ended.  That would shoot the USD up, at least it's supposed to.  If the wording doesn't change, than the market is going to melt up further.


Mark Carney only has one play book, and it's a copy of the US Fed's play book with a slight lag...how could it be any different with an elephant for a neighbor?  USD/CAD looks like it may touch .99 and bounce, ultimate target could be a full retracement back to .90.

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