Thursday, December 13, 2012

Updated Comments on Canadian Dollar by @JimIuorio

Updated Comments on Canadian Dollar by @JimIuorioSocialTwist Tell-a-Friend
Attached is a 50-day chart of December Canadian Dollar.

Unfortunately we took off half of our position before the Fed announcement but, on the bright side, we are still long.   The Fed changed its language from "low rates through 2015" to  
"low rates until unemployement rate below 6.5%."

This is strong language as any real labor market strength could be met with increases in the participation rate.  For this reason we still have a long bias in canadian dollar.  We would move stop level on remaining position to a settle below 100.48.

Good luck today,
Jim Iuorio

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