Comments on the Canadian Dollar, Euro and Copper
Currencies and copper are the focus of today’s market wrap. Some of the strongest uptrends this year has the in the Euro and over the past two months in the Canadian Dollar. I share my thoughts on these currencies and if the runs are sustainable. I also look at the copper price which is threatening to breakout tot he upside.
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Well boys, if your mail showed up late last Fall this might explain it….
Postal Service broke law in pushing time off for workers to campaign for Clinton, investigation finds
Funny..there is no law for government.
Off Topic:
Falcon Heavy is capable (in theory) of launching a lunar trip.
CAPE CANAVERAL, Fla. (AP) — SpaceX’s chief said Wednesday that the first launch of its big new rocket is risky and stands “a real good chance” of failure.
Founder Elon Musk told a space station research conference Wednesday that he wants to set realistic expectations for the flight later this year from Cape Canaveral. The Falcon Heavy will have three boosters instead of one, and 27 engines instead of nine, all of which must ignite simultaneously. No one will be aboard the initial flights. When it comes time to add people, Musk said, “no question, whoever’s on the first flight, brave.”
SpaceX plans to fly two paying customers to the moon late next year, using a Falcon Heavy.
While the moon may not be in Musk’s personal travel plans, he said in response to a question that he’d like to ride one of his smaller Falcon rockets to the International Space Station in maybe three or four years. SpaceX plans to start ferrying NASA astronauts to the orbiting outpost, using Falcon 9 rockets and enhanced Dragon capsules, by the middle of next year. SpaceX now uses the Dragon capsule to deliver supplies to the space station.
Russian and Americans share the space station,wonder if they trade secrets
Skarica gets it!
I think the loonie is likely to keep surprising to the upside while the dollar is likely to do the opposite…
http://stockcharts.com/h-sc/ui?s=%24CAD&p=W&yr=6&mn=0&dy=0&id=p19929158663&a=452282882
It’s been more than six years since the last time it achieved the same weekly RSI reading…
http://stockcharts.com/h-sc/ui?s=%24CAD&p=W&yr=6&mn=11&dy=7&id=p95288813751&a=426052108
Let’s see if it can peek above last year’s high before taking a break.
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=5&dy=0&id=p88191288298&a=521484960
The yen is holding its own…
http://stockcharts.com/h-sc/ui?s=%24XJY&p=W&yr=7&mn=3&dy=22&id=p67555767760&a=489358284
But it’s got some resistance to deal with right here…
http://stockcharts.com/h-sc/ui?s=%24XJY&p=D&yr=1&mn=0&dy=0&id=p33103892570&a=517987082
Presumably we will get a USD rally at some point and copper, platinum, PM’s, iron ore, etc, will head back down.
I think that will be the buying opportunity – but I am only guessing.
Yes Bob that will be the next buying opportunity. Until the next dive down and the one after that, and the one after that…. and so on it goes, blah blah blah.
Forgive the defeatist, glass half empty type sentiment folks. The metals just continue to muddle around in bear country. All these rallies have proven to be fakeout false dawns im afraid.
I share your feelings Ozi.
Copper looks pretty darn good to me:
http://stockcharts.com/h-sc/ui?s=%24COPPER&p=W&yr=4&mn=2&dy=0&id=p85560342100&a=523146040