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Strategies & Market Trends : Canadian Dollar

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To: Jeffrey Shaw who wrote (8)	10/10/1996 12:06:00 AM
From: Steve Wood	of 103

Jeffrey, Thanks for the fundamental overview. It certainly makes me feel more confident in the move. If you don't mind, I have a quick question on fundamentals that will no doubt expose my ignorance of the subject. Is it generally true that lowering rates results in a stronger currency or is the CD a special case? For some reason it seems to me that it ought to be the other way around. Re: the charts, it looks like the trendlessness of the past eight months has been broken to upside. I'd like to see a few days consolidation to let the three month moving average move to within a std. dev. of the price. The price is now over 2 std. devs. above the average which generally calls for a consolidation period or a correction. Naturally I'd rather see the consolidation! Right now I've got a stop at 73.86 on my Dec position just in case the break out was a false alarm. Your fundamental analysis provides some evidence that perhaps it won't be needed. As always my views are just that and are not intended as recomendations to buy or sell. Que te vaya bien...Steve

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