I «lost» money because
the Canadian Dollar rallied against the U.S. buck in the time it took my trade to settle.
Not exact matches
Other currencies which have borne the brunt of the
dollar's
rally in the last two weeks such as the Australian
dollar,
Canadian dollar and the Swiss franc stabilised on Wednesday, rising between 0.2 to 0.4 percent.
«What sparked the
rally is a perception of a shift in
Canadian government policy toward the
dollar,» said Michael Malpede, a currency analyst in Chicago with Refco Inc., adding that Mr. Dodge's comments put an end to the widely held perception in the market that Canada supported a weak currency to help its exporters.
Despite the move, the Aussie, and the also
rallying Canadian Dollar are still well below the pre-crash highs, and as they have led the market during the correction, we still remain defensive towards risk assets here.
Should the Aussie and the
Canadian Dollar pick up some bullish momentum, we could be in for a more durable
rally in equities too, as they have been leading risk assets in recent weeks.
Bank of Nova Scotia Chief Foreign - Exchange Strategist Shaun Osborne says the
Canadian dollar is poised to
rally to C$ 1.20 versus its U.S. counterpart by year - end, from C$ 1.2683 at 12:35 p.m. Tokyo time Wednesday, as traders who've been reducing expectations for a third BOC interest - rate hike in 2017 begin to price one back in.
The
Canadian Dollar broke its relationship with the Euro on Thursday... that is CAD kept falling against the USD while the Euro
rallied.
Catliff says the
Canadian dollar and peso have
rallied when Hillary Clinton, the presidential nominee for the Democrats, has done well in the campaign.
Also when you include US stocks for example, you bring in the US
dollar which often
rallies during downturns so this benefits a
Canadian investor.