Canadian Dollar Bias is Negative

The Canadian dollar bias is negative.  The Canadian dollar is being undermined by a variety of influences including: 1)    Positioning:  The speculator community is still substantially long CAD/short US dollars 2)    Oil Prices:   WTI oil cannot sustain gains above $50.00/barrels.  Traders believe that prices within a $47.00-$50.00/barrel range are reflected in the current price. 3)    Bank of Canada: Some traders

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Canadian Dollar in Downtrend

The Canadian dollar is under pressure.  Broad US dollar strength against the FX majors and lop-sided positioning have combined to drive the Canadian dollar lower.  The slide began at the end of July and has continued with only minor interruptions since then. There are several positive factors for the Canadian dollar.  These include robust economic growth that targets 4.0% GDP

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Oil Prices Leap, Canadian Dollar Stumbles

Oil prices have surged over the past few days.  WTI oil spiked to $50.40/barrel overnight, supported by expectations that growing demand will outstrip production due to Opec’s oil production cuts.  In addition, the US sanctions against Venezuela for rigging an election have added another layer of support, warranted or not. However, a mix of weaker than expected Eurozone data ahead

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