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Strategies & Market Trends : Canadian Dollar
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To: Jeffrey Shaw who wrote (37)4/21/1997 7:32:00 PM
From: Charles R. Keuler   of 103
 
Jeffrey,

I would expect it to go to .7050. Even with the Canadian elections in the fall, the C$ will continue to drop in the short term due to the US interest rate rise and the Canadian mining stock problem.

After that the C$ should begin to rise, especially after the elections. Elections tend to make a currency less desirable for foreign folks due to the uncertainty. Of course, the party in power tries to do what it can to get (keep) the economy moving, but raising interest rates to support the currency is not usually an option. The uncertainty is removed after the election and the currency can regain some luster. It is a little more complicated than I have just stated, but you have the idea.

I very much like the Canadian elections. They are a great time to be trading the C$ both long and short. There is a bunch of money to be made playing the rapid swings of opinion. Especially if Quebec starts posturing.

Good luck,

Chuck
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