Wednesday, October 20, 2004

Decade of Decadence...

The Loonie brushed off the lower than expected Leading Indicators, a small gain of .3% vs .5%, with help from its Wholesale indicator with a healthy gain of .7% vs .1%. Gold prices creeping higher as are oil prices, once again breaking through $54 and approaching the $55 threshold as the Canadian dollar moves neck and neck with light crude oil. Tone remains hawkish on rate hikes from the Bank of Canada. We haven't seen rates in for Usd/Cad in the 124.oo region in over a decade. Analysts looking at price target as low as 1.2100.


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