Saturday, February 27, 2021

Canadian greenback hits finest ranges since 2018 as traders fall in love with commodities once more

USD/CAD breaks the January low

USD/CAD breaks the January low

If inflation spikes the place do you wish to be?

Commodities have traditionally been an awesome spot, one thing Goldman Sachs highlighted right this moment in its name for brent to hit $75 in Q3.

Oil firms shares are surging right this moment, together with in Canada the place a handful are up round 10% together with the large Suncor, which Buffett offered closely in This fall.

Canada is an efficient place to be if there’s broader commodity inflation as effectively, with huge portions of metals and lumber.

Technically, the break right this moment of the January low in USD/CAD indicators we may see a fall as little as 1.20. The drop on the open got here in skinny liquidity although and the low in Toronto commerce up to now is 1.2995. I would prefer to see a break (and shut) under the Jan low of 1.2589 earlier than it is well-and-truly busted.

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