FXC: GOING LONG THE “LOONIE”

The Canadian Dollar has been hammered by declining energy commodity prices, but we are buyers here. Remember that this is a nation that printed a 5.8 Billion dollar trade SURPLUS for the last reported month and that the benchmark rate there is 2.6% while we expect the fed to cut US rates in the near term. From both a technical standpoint and a relative value standpoint, this trade looks solid.

Andrew Barber
Director