SA Guest

Forget About a V-Shaped Recovery. Maybe a W. Or L. And What About $?

Canadian economic growth (ex commodities) is largely beholden its neighbor to the south. Polls suggest that the Canadian election in October may result in a Conservative (right of republican) majority. Canadian banking model, in place since the eighties, would appear to be direction US is heading*. It would seem to me that the USD/CAD is well positioned to break the 1.0465 level and depending on commodities could break the 1.000 level in the near future.

As for the notion of a "V" shaped recovery ... it depends on how you look at it -- I actually don't see the letter "V" but instead an arrow that is pointing down (V) -

* www.financialpost.com/...

Not related - but for those who have followed Conrad Black - he weighs in today with an interesting article on the recent Wall Street goings on from his prison cell just outside of Disney World.

tinyurl.com/3s7zj6