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  • Canadian Dollar Hits 11-yr Low vs. USD on Wholesales Trade Data Miss & Macro Factors

    From dailyfx.com

    The Canadian Dollar is definitively the weakest currency within the G10 as pressures mount on the Bank of Canada to potentially ease again. Oil is causing further pressure on the economy and another January rate hike may be in the cards should the price of Oil, which the Canadian economy relies heavily upon, fall below the 2008 intraday low of $32.40. That fear, along with the market’s favor of the US Dollar after Wednesday’s FOMC decision to raise rates and project four hikes in 2016 cased The Canadian dollar to fall to C$1.40 per US Dollar for the first time since 2004. Inflation in Canada has been rather ... (full story)

another case of - " the more things change, the more the stay the same"
it will just take either one bit of turmoil in the middle east or one hint a production reduction and bang ..off the 11 year lows
yes, you are right. Hopefully that happens soon. The job prospects in Alberta are starting to suck, big time.
Quoting glenngie
it will just take either one bit of turmoil in the middle east or one hint a production reduction and bang ..off the 11 year lows
The CAD (or AUD) sure look ugly on a chart, but most Canadians (or Australians) are barely aware of this since both economies are modern and diversified.

That is not the case with Russia. Putin's 15 year dream of rebuilding the Soviet Empire is dead with oil at $35. So Vlad must engineer a Black Swan like (a) sudden, hot conflict in the Mid-East or (b) a sudden default on Russian debt like 1998.
Quoting Zer0sum
The CAD (or AUD) sure look ugly on a chart, but most Canadians (or Australians) are barely aware of this since both economies are modern and diversified.

That is not the case with Russia. Putin's 15 year dream of rebuilding the Soviet Empire is dead with oil at $35. So Vlad must engineer a Black Swan like (a) sudden, hot conflict in the Mid-East or (b) a sudden default on Russian debt like 1998.
Now this is a conspiracy theory worth it's weight! I like it!
Quoting Zer0sum
The CAD (or AUD) sure look ugly on a chart, but most Canadians (or Australians) are barely aware of this since both economies are modern and diversified.

That is not the case with Russia. Putin's 15 year dream of rebuilding the Soviet Empire is dead with oil at $35. So Vlad must engineer a Black Swan like (a) sudden, hot conflict in the Mid-East or (b) a sudden default on Russian debt like 1998.
I agree....is OPEC under pressure by US and other not to decrease production to neg. affect Russia and Iran?
any chance for usdcad back to 1.37 next week . please tell me
Canada is in a recession on the borderline of depression, the central bank of Canada are actually debating slashing rates to negative.
Not due to Whole sale data, its all due to OIL Prices
Quoting bel3ouchi
any chance for usdcad back to 1.37 next week . please tell me
Wait for 145 before reversal to 137 my dear!!
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