Canadian vs. US Banks--Better PE and rising C$ Message Board

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Non-Tech : Canadian vs. US Banks--Better PE and rising C$

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To: Mr.Manners who wrote (15)	4/5/1997 2:42:00 PM
From: Steve Bevington	of 230

Kasha, I haven't seen many other postings on this, especially with regards to the Canadian banks, but I feel that there may be a bit more room for softness over the next week or two. I just can't see things bucking the recent trend and heading back north quite so soon. With the Canadian dollar as low as it is right now (under 72 cents US), it probably won't be long until the Bank steps in and raises rates a 1/4 point or so. If so, you know it's going to be a while before we see Royal Bank hit $60 again. As well, with the unemployment numbers looking stonger in Canada than at any time over the past while, it's becoming more likely that the federal Liberals will call an election for either June 2nd or 9th. While there is a very strong likeliehood that they will be reelected, I feel that the market will likely continue its pause until after the election campaign. Just a thought. What's your feeling?

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