19 Quotes by Jack Spitz
- Author Jack Spitz
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U.S. markets are closed for Martin Luther King Day so price action is expected to remain muted throughout the North American session.
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Model names and momentum accounts are looking at buying Canada and (International Money Market futures) names are on it already.
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Given the Fed's middle-of-the-road statement that the end is somewhere nearer rather than further, it implies that the (U.S.-Canada) interest rate differential is going to narrow, and that is favorable for the Canadian dollar.
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He repeated the call for modest interest rate increases.
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I see a test, and a successful one at that, through the 14-year high.
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Price action is still (pushing the U.S. dollar lower against Canada) given the price of commodities and energy, which are both supportive of the Canadian dollar going forward.
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The upcoming election on Jan. 23 isn't likely to have a negative impact on the Canadian dollar. Nor should it.
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There's been corporate support for dollar/Canada all the way down here. Model funds, momentum types, technical traders are still looking at buying the Canadian dollar even above 88 cents.
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The news was all, on balance, positive for the Canadian dollar.
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