FXstreet.com

Daily FX Commentary

This report has been deactivated

4

0

Daily FX Commentary

Tue, Oct 21 2008, 12:13 GMT

Investica Ltd


Growth cycle hurts Canadian dollar

The Canadian dollar was unable to hold stronger than the 1.18 level against the US dollar on Monday and there was a renewed decline to 1.1980 in late US trading as the US currency rallied.

The principal short-term focus will be on the Bank of Canada interest rate decision. Markets are expecting a further 0.50% to 2.00% which would tend to keep the currency on the defensive, although the bank may want to be more cautious, especially as there was a 0.50% rate cut earlier this month.

A reduction of less than 0.50% would provide immediate relief for the currency. The Canadian dollar will still be hampered by the underlying deterioration in global growth conditions, especially if there is a further decline in commodity prices.


Archive

Investica Ltd http://www.investica.co.uk | tim.clayton@investica.co.uk

Legal disclaimer and risk disclosure

Investica's market analysis is not investment advice and must not be taken as recommending particular market positions. Investica can take no responsibility for any actions taken by investors.

Related reports

Daily Analysis - The Dollar gains as the markets tumble and investors seek a safe haven by Finotec Group Inc.
Fri, Jul 3 2009, 11:47 GMT

Daily FX Report - The USD/CAD rose from 1.1496 to 1.1630 at its closing by Varengold Wertpapierhandelsbank AG
Fri, Jul 3 2009, 08:26 GMT

Currency Trading News - US Dollar, Japanese Yen Up Sharply as Disappointing US NFPs Stoke Flight-to-Safety by DailyFX
Fri, Jul 3 2009, 05:58 GMT

Currency Majors Technical Analysis by Mataf.net
Fri, Jul 3 2009, 05:30 GMT

Daily Analysis Article - Daily Currency Outlook by ForexRazor
Thu, Jul 2 2009, 17:31 GMT

boc, usdcad

View All

Related content

Wall Street collapses on Unemployment data; Dollar rises on risk aversion
FXstreet.com | Thu, Jul 2 2009, 13:54 GMT

Forex: USD/CAD jumps to post 1.1574 as intra-day high
FXstreet.com | Thu, Jul 2 2009, 13:13 GMT

Forex: USD/CAD breaks down 1.1575
FXstreet.com | Wed, Jul 1 2009, 09:57 GMT

Canada Afternoon: C$ Ends Down As US Dollar Advances Broadly
Dow Jones | Tue, Jun 30 2009, 19:49 GMT

Forex: USD/CAD tests 1.1540 after April Canadian GDP data
FXstreet.com | Tue, Jun 30 2009, 12:57 GMT

boc, usdcad

View All

Interested in forex trading? forex brokerage firms!


NordMarkets.com
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
City Credit Capital (UK) Limited
Contact the broker/FDM
Open a demo account
Alpari (UK) Limited
Contact the broker/FDM
Open a demo account
Deutsche Bank
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.