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Canadian Dollar Higher As Commodities Advance
Financial Spread Trading By Peter Shout
In terms of sheer size, the United States accounts for roughly half the world stock market capitalization. For those who think the end of American hegemony is nigh, hark back to the 70s and 80s, when the greenback suffered similar problems. The commodities boom will inevitably give way to bust, and the Canadian dollar will suffer as a result. The Canadian economy will invariably follow the U.S. into slowdown, and then the race will be on for the Canadian dollar to fall more than the greenback.
Nfl Betting Spread (SP) Toronto - The Canadian dollar moved higher Thursday as metals and oil commodities advanced. The Loonie rose 1.1 percent, the most since May 9, to 90.22 U.S. centsin early afternoon tradingin Toronto, from 89.27 U.S. cents yesterday. The Canadian currency, also called a "loonie",strengthened against 16 major currencies tracked by Bloomberg, and has increased about 4.9 percent this year against the U.S. dollar. TheLoonie rose as much as 1.2 percent today, the most since July 12.
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Commodity Spread Trading The Canadian dollar reached 91.10 U.S. cents on May 9, the highest since 91.40 U.S. cents on Jan. 6, 1978. The currency exceeded 90 U.S. cents today for the first time in a week.
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Betting Exchange Spread The Canadian dollar is likely to appreciate to 93 U.S. cents by the end of June, and 94 U.S. cents by the end of 2006, analysts predict.
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Advanced Commodity Spread Crude oil for July delivery rose 54 cents, or 0.8 percent, to $70.40 a barrel. Gold futures for June delivery rose as much as $11.50, or 1.8 percent, to $649 an ounce. Copper for delivery in three months rose $220, or 2.8 percent, to $8,050 a metric ton.
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Online Spread Betting The Canadian dollar extended its gain after a report showed the U.S. economy grew slower in the first quarter than analysts forecast.
Stock Spread Trading Gross domestic product, the sum of all goods and services produced in the U.S., grew at an annual pace of 5.3 percent in the first quarter, compared with 4.8 percent reported on April 28, the U.S. Commerce Department said.
Betting Horse Racing Spread Canada's trade surplus was C$5.14 billion ($4.67 billion) in March, compared with C$4.61 billion a year ago.
Complete Guide Spread Trading Canadian Trade Minister David Emerson said yesterday during an interview that Canadian exporters responded well to dramatic rises over the last few years of the exchange rate, "although the level of the Canadian dollar has got to be difficult for them."
Sport Spread Betting The central bank yesterday lifted its benchmark interest rate a quarter-percentage-point for the seventh straight time since September to 4.25 percent.
Low Spread Forex Trading The benchmark two-year bond's yield fell 2 basis points to 4.08 percent. The price of the 3.75 percent bond due June 2008 increased 3 cents to C$99.37. Yields move inversely to bond prices.
Trading Spread And Seasonals Canadian bond demand is soaring on gains in the local currency to a 28-year high against the U.S. dollar and investors should buy the securities rather than U.S. Treasuries, CIBC World Markets Inc. said in a seminar to clients.
Betting Guide Insider Sports Rising commodity exports have led to record corporate profits, making Canada the lone Group of Seven nation with a balanced budget as it is likely to post a C$17.8 billion surplus this year. That's allowed the country to reduce annual debt sales by 44 percent in the past decade, to about C$31 billion ($28 billion) this year. The yield on Canadian 10-year bonds fell below that of U.S. Treasuries in 2005.
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