Re: nice close at .55 cents

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scoutaz_2003

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Re: nice close at .55 cents

posted on Sep 30, 2009 04:35PM

Pic,

I have been paying particular attention to the USD for quite some time.

The CDW had broken above the .93 area recently. It had seemed to be resistance.

It got smacked back when the Canadian government announced some QE measures about 10 days ago and they went out of their was to say it wouldn't be CDW negative...which meant it would be.

So I think the Canadian Government has been defending the CDW in the FOREX market and they ran out of the funds to keep the pressure on.

It's just my opinion but it has played out as I had anticipated.

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