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Candian Dollar Declining End of 2006

 
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Candian Dollar Declining End of 2006 Can't Post
On one hand the CDN dollar managed to reap its strongest gains when the US economy was at its weakest post 9/11. On the other hand, the Canadian dollar fell the most in a month as Europeans sold the currency amid expectations the US slowdown would drop Canada as well. This makes sense, however, there is a certain sense of developed autonomy over the Canadian economy that should hold losses to a manageable level.

The loonie weakened despite a stronger-than-expected current account surplus and higher oil prices amid broader strength in the U.S. currency. Even the hosing market continues to chug along with positive results.

The loonie was also under pressure after a report showed raw materials prices fell for the third month in a row and more than economists expected. Energy prices for the upcoming winter month may help boost the loonie, that remains to be seen.

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Nov 29, 2006, 7:27 PM

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Re: [Mod] Candian Dollar Declining End of 2006 [In reply to] Can't Post
I am new to foreign exchange, and unwillingly so. But I have to address it because my trading account is in US dollars but I am Canadian. As the Canadian dollar has dropped relative to the USD my funds, in Canadian dollars, have increased dramatically without my having to do anything at all. Naturally I want to keep these gains, and if I can foresee a time when the CDN dollar gets stronger relative to the USD I'll convert my trading funds back to CDN dollars to trade Canadian equities.

Where can I get information about the Canadian interest rates, and especially the value of the Canadian dollar relative to the USD? I would have a horizon of about 6 months to a year in terms of planning a move.

Thanks.

markmans
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Dec 29, 2006, 4:49 PM

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Re: [markmans] Candian Dollar Declining End of 2006 [In reply to] Can't Post
Best place is CANSIM. That's an offshoot of stats Canada, you can get all your interest rates from there. Problem is you need to pay i believe. More later, we're in the process of moving web servers so things are a bit quiet right now.

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Jan 4, 2007, 2:20 AM

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