View Full Version : Hocus Pocus

10-22-2007, 03:55 PM
"Bank of Canada Governor David Dodge said Sunday that the Canadian dollar's appreciation has been unusually quick recently and doesn't appear to be a reflection of economic fundamentals.

"The recent rapid appreciation has been abnormally quick and doesn't seem to be related to the domestic factors which would normally have led to that sort of rapid appreciation. Our terms of trade have improved a little bit over the past three months but ... not a lot that would give that much impetus to things,""

LINK (http://www.marketwatch.com/news/story/bank-canada-chief-says-canadian/story.aspx?guid=%7B38FE7AEE-ED64-4FAC-890E-5D820559E7BB%7D)

10-22-2007, 03:58 PM
"The Canadian dollar slid as the U.S. dollar rallied on Monday, as comments by the Bank of Canada's chief over the weekend about the domestic currency's strength caused concern among investors."

LINK (http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-10-22T134249Z_01_N22418471_RTRIDST_0_MARKETS-CANADA-DOLLAR-BONDS.XML)

10-22-2007, 03:59 PM
Of course, makes sense to me that Dodge is trying to cool things off.

10-22-2007, 04:00 PM
"Canadian stocks fell stocks fell for a second day on speculation demand for the country's commodities will weaken, after the Group of Seven finance ministers and central bankers said credit-market losses will slow the global expansion."

LINK (http://www.bloomberg.com/apps/news?pid=20601082&sid=aHLV_XFwgayo&refer=canada)

10-22-2007, 04:02 PM
"Canadians could be paying as much as $1.50 a litre at the pumps within six months, analysts say, as the price of crude oil hovers around the record-breaking $90 US a barrel mark and threatens to jump higher still."

LINK (http://www.canada.com/topics/news/story.html?id=dd75d9cc-4363-467e-bdaa-16689408a652&k=2760)

Return of Too Many Daves
10-22-2007, 04:02 PM

Return of Too Many Daves
10-22-2007, 04:03 PM
It isn't a competition though. The American economy will recover in no time at all, and I suspect the Canadians should hope it is sooner rather than later.

10-22-2007, 06:50 PM
It will recover once Iraq is settled, which is not going to be anytime soon. It's a nasty mess out there, and the Middle East region is worse of now then when Saddam was in power.
Certain countries surrounding Iraq are just waiting to pick a piece of the cake, once the coalition forces leave. Which is the main reason why they are so afraid of leaving Iraq, despite the fact they are being attacked daily.
Instead of stability we have instability, despite the various reports that state the contrary.