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Currencies - Canadian dollar?

Many gold miners are based in Canada. It seems that their stocks are dropping even though gold is up.
This might be because the Canadian dollar is associated with the EURO.
I think the Canadian dollar should be stronger than the USD, which is stronger than the EURO.

What’s happening?

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This entry was posted on Sunday, June 6th, 2010 at 5:33 am and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2 Responses to “Currencies - Canadian dollar?”

  1. John S Says:
    June 6th, 2010 at 5:33 am

    In the long term, the Canadian Dollar is expected to appreciate agaist both the US Dollar and the Euro, because the fundamentals of the Canadian economy and Canada’s fiscal situation are both much better.

    However, in the short term, because of the recent risk-off trade due to the crisis in Europe and possible slow down in East Asia, which is the source of much of the demand for the world’s basic materials and energy, the two sectors that dominate the Canadian market (not the Canadian economy though, which is 70% services much like the US), the Canadian dollar has recently taken a hit.

  2. T D Says:
    June 6th, 2010 at 5:33 am

    WRONG. The canadian dollar follows oil. Canada is #2 oil producing nation and oil is the biggest export. Chances are if oil is up the dollar is up.

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