Canadian Dollar 2008-2017 Review

 

 

Many are fearful that our CAD is going into the toilet due to all the trade agreements being renegotiated or even canceled. I think that fear is misplaced as the 2016 bottom may have been an 8 year record low already. The CAD is in the US dollar basket and holds about a 9.1% share when I checked this morning.  All the contrarians have always used the CAD as an inverse indicator and at this time nothing has changed.  The US dollar is already imploding, which gives commodities a big boost, and the CAD will benefit as well. 

We should see a “C” wave bull market still to play out and this may have bigger wave subdivisions than smaller ones when the CAD bull market started.  None of the COT reports regarding the CAD help make a very bullish case, but that may even change as time moves forward. 

 

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