Brief comment below from the Ledendary Trader Dennis Gartman. For subscription information for the 5 page plus Daily Gartman Letter L.C. contact – Tel: 757 238 9346 Fax: 757 238 9546 or E-mail:firstname.lastname@example.org HERE to subscribe at his website.
THE US$ vs. THE CANADIAN: A Bear Market In Full: Clearly Canadian businessmen and women would prefer a weaker C$ vs. the US$, but just as clearly they are not getting their wish as capital flows to Canada to buy the raw materials… and manufactured goods… that Canada has in abundance and which the world needs in perpetuity. New lows for the US$ are but a matter of time.
We see no reason to believe that this trend is anywhere near ending, and we shall view a break of the recent and important lows for the US$ at 1.0650 to be taken out and thrashed. Canada has crude oil to sell; it has grain to sell; it is base and precious metals to sell; it has water and natural gas and uranium and cobalt to sell… and it has a port facilities to effect those sales along with a stabile government that is quietly trending centre-right even as the US government is lurching centre-left. Why would one not be long of the C$ in those circumstances?
The Gartman Letter is a daily commentary on the global capital markets subscribed to by leading banks, broking firms, hedge funds, mutual funds, energy and grain trading companies around the world.
The Letter each day deals with political, economic and technical circumstances from both a long and short term perspective, and is available to our clients and prospects at approximately 10:30 – 10:45 GMT each business day of the year. Mr Gartman has been producing his commentary on a continuous basis since 1987, and has taught courses on capital markets creation and derivatives for banks, broking firms, governments and central banks all the while.
Comment from the Ledendary Trader Dennis Gartman. For subscription information for the 5 page plus Daily Gartman Letter L.C. contact – Tel: 757 238 9346 Fax: 757 238 9546 or E-mail:email@example.com HERE to subscribe at his website