Look to short the CAD/CHF and CAD/JPY Sep.18/07
Forexmentor.com Forex Trading Price Action
Canada can’t escape a slowdown in the U.S. It’s a matter of time before the negative events spill over the border. The monetary policy is intertwined. Expect a rate cut from BoC. Look to short the CAD/CHF and CAD/JPY on good technical entry points.
Did you know that the U.S. dollar is no longer the world’s favorite currency? The euro has moved to the No. 1 spot, with US$800-billion in circulation. That said, the greenback remains the currency of choice for the world’s central banks, although they have cut their holdings of U.S. Treasuries by $48-billion since last July.
Some governments have been shifting reserves to euros and Asian currencies. There is a very real concern that, if the Fed Reserve lowers rates, this will eat into returns on foreign assets held in the U.S. This could accelerate the flight from the dollar. Forexmentor.com will bring you
all the latest news as it materializes.
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