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#1387 (permalink)

06-10-2008, 01:35 AM

John Rivera John Rivera is offline

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Although, I feel that we will see a bit of a retrace after the rate decision, since Governor Carney is expected to signal the end of the current easing cycle after a 25 point rate cut. Longer term I see USDCAD heading toward 1.0459 50.0% Fibo of 1.1874-0.9056. Especially, with the anticipated demand destruction for oil due to the global slowdown and also be aware that intervention talk has resurfaced which may really start to depress oil prices. Although, they are rebounding today.

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