Reasons to be bullish CAD from David Rosenberg's daily report today :=
- organic strength of the Canadian economy
- a monetary policy that has not relied on excessive money printing
- a pro-business federal government
- a national balance sheet that is about the strongest in the industrial world
- a yield advantage at the short end of the bond curve
Line chart here covers 1971-current. Now trading at 40 year lows. Expect the USD/CAD short position to turn from "
most trying" to "most rewarding" soon. Will increase risk on a NY close below 0.9827 tonight.
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Friday trading 0.9818 low. CLose 0.9860. Did not close below 0.9827 again so did not increase risk. So far always a lack of selling momentum everytime we get below.
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