May 29, 50-day moving USDCAD pair crossed down the 200-day moving average, which paved the way for further growth in the Canadian currency. Recall that for the same crossing that took place on 11 May 2007, followed by the 6-month rally, ending 17 per cent strengthening luni. "From a technical point of view, it is negative for the U.S. dollar", - said Shaun Osborne, chief currency strategist at TD Securities Inc Toronto. - "However, this signal - only one of the huge number of other negative for the dollar signals that we are constantly receiving in recent weeks."
P.S. In May, the Canadian currency rose by 9.3%, which was the highest achievement since October 1950 when the Bank of Canada to have such statistics.
P.S. In May, the Canadian currency rose by 9.3%, which was the highest achievement since October 1950 when the Bank of Canada to have such statistics.
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