Quote:
Originally Posted by snootchiebootchies
It is just guesswork but technical analysis would tell you that the Canadian dollar will likely depreciate from here in the short term. The Canadian dollar is trading at 10-month lows compared to the US dollar, and it looks like the trend of higher highs (against the US dollar) is about to break.
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That makes no sense, it's trading at 10 month lows so it will break lower?
I think (and guess) that CAD will break higher. Macro indicators are pointing up, Canadian growth and interest rates are headed higher whereas US growth is flat. What's keeping CAD down are currency traders who see downside risk in the anti trade talk, lumber and dairy dispute and the housing picture.