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Strategies & Market Trends : Canadian Dollar

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To: TAPDOG who wrote (87)	8/27/1998 10:41:00 AM
From: AreWeThereYet	Read Replies (1) of 103

Since our PM said "Our economy is still in good shape!", I told my peer that CDN$ will likely to see 0.65 and perhaps overshoot down to 0.64x. Well, the damage is more than I predicted obviously. I don't know why our PM is so passive , it always get forced to defence in the last minute. See how he handled last Quebec Referendum, last interest rate hike...(glad he didn't had my vote in last 2 elections, in fact nobody does) What he did is simply create a imbalance economy who focus on export export export. The exporters just enjoying a gov't planted economy advantages and focus less to improve fundamental competitive advantages. We importers are suffering like hell. We are doing even worst than our parent company in H.K.!!! It's funny and sad we have changed our internal U.S exchange rate twice since fall 1997 from 1.4 to 1.5 and 1.5 to 1.6. In our previous rate change, I even had to re-compiled our program to recognize CDN fell below 1.5!!!!!!! If CDN$ fail to return to 0.65 level, I think a interest rate hike is coming soon - probably too late again :o( In any case, it will make our bonds less attractive. aC

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