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Clearly a sellers market in USD/CAD
USD/CAD is at the lowest since June 2. Risk is a driver with stocks into positive territory and USD is generally weaker but the quick turnaround from the rally to 1.0880 is a sign that the bears have taken the upper hand. Securities transactions data added a reason to sell but that is an extremely low-tier data point. There is some M&A talk in the potash industry on a potential BHP takeover of Mosaic but those flows would all be into USD with Mosaic based in Minnesota. Technically, there are several layers of support before 1.0843, especially the May lows. But given the turnaround today and that sustained bearish ... (full story)
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- Jun 16, 2014 10:21am Jun 16, 2014 10:21am
- timos
- | Joined Sep 2012 | Status: Member | 308 Comments
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- Jun 16, 2014 10:38am Jun 16, 2014 10:38am
- SpotPip
- | Joined May 2014 | Status: MoneyManager | 14 Comments
SpotPip - we SPOT, you PIP
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- Jun 16, 2014 11:23am Jun 16, 2014 11:23am
- Rtm
- Joined Jan 2011 | Status: dump and pump | 913 Comments
All posts are my personal opinion