Reply #20: Loonie watch (CAN)

[TrogL]

http://www.x-rates.com/d/USD/CAD/graph30.html
http://www.x-rates.com/d/USD/CAD/data30.html

2004-06-14 Monday, June 14 0.730887 USD
2004-06-15 Tuesday, June 15 0.72998 USD
2004-06-16 Wednesday, June 16 0.726111 USD
2004-06-17 Thursday, June 17 0.727167 USD
2004-06-18 Friday, June 18 0.732869 USD
2004-06-21 Monday, June 21 0.733138 USD
2004-06-22 Tuesday, June 22 0.735727 USD
2004-06-23 Wednesday, June 23 0.734538 USD
2004-06-24 Thursday, June 24 0.744602 USD
2004-06-25 Friday, June 25 0.741345 USD
2004-06-28 Monday, June 28 0.744325 USD
2004-06-29 Tuesday, June 29 0.742666 USD
2004-06-30 Wednesday, June 30 0.745879 USD
2004-07-01 Thursday, July 1 0.750469 USD
2004-07-02 Friday, July 2 0.754489 USD
2004-07-06 Tuesday, July 6 0.754091 USD
2004-07-07 Wednesday, July 7 0.757805 USD
2004-07-08 Thursday, July 8 0.759648 USD
2004-07-09 Friday, July 9 0.757174 USD
2004-07-12 Monday, July 12 0.758265 USD
2004-07-13 Tuesday, July 13 0.754205 USD
2004-07-14 Wednesday, July 14 0.756144 USD

http://www.dailyfx.com/currency_cad_thomson.html

USD/CAD has been notable for its lack of logic over the last two trading sessions. Yesterday's slide from 1.33 to 1.3160 was unforeseen given news of divergent trade data between the US and Canada and word that the Canadian FinMin would be sacked. Today the buck bounced despite a pop in oil and in gold and a slide in US retail sales retracing half of yesterday's loss.

Repeated attempts to overcome yesterday's 1.3160 low failed, sparking a push through 1.3215 stops on the way to 1.3230.

Bear in mind that Canada's current Prime Minister used to be the finance minister so canning his postdecessor is significant. Thing is, though, I don't know why. The loonie is rising faster than the greenback is falling AFAIK and the balance of trade numbers are duckie indeed.