Intraday Market Thoughts

Archived IMT (2009.02.18)

by Ashraf Laidi
Feb 18, 2009 14:38

While much has been published about the inverse correlations between JPY and equities, the Canadian dollar is increasingly showing powerful positive correlations with equities. Despite more data gloom and weak oil prices, CAD rebounds across the board, albeit less so against AUD and NZD. A medium term outlook of 1.3100 in USDCAD is plausible, which would denote 69 in CADJPY. Argument from equities is illustrated in today's Hot-Chart.


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