Cdn Dollar Breaks 80 Cents

[helmsdale]

May we live in interesting times...

[helmsdale]

The fed blew themselves up today. Interlending system failed last night, 7yr bond auction failed today.

After a yr of govt lies and deception from covid to Trump, any surprise that faith is being eroded.

Not in a million yrs would I hold govt issued debt of any duration.

They're all stuffing out statements like, "rates are still very low historically." Or, "we see no need to intervene at this point."

Nothing to see here!

[errolanderson]

Sharp loonie setback today led by broad-based weakness across global commodities. After breaking above 80 cents yesterday, the June Cdn broke toward 78 1/2 cents U.S. today. Choppy action likely next week.

Dr. Copper had a sick day down nearly 20 cents/lb. Crude oil lost more than $1.50 per barrel. Gold down $60 per oz at one point mid-morning. The cattle board was bothered by a quiet packer and uneasy equity markets. Soybeans, corn showing exhaustion (IMO).

[TOM4CWB]

End of month jitters?

C$.784 but with C$248B Deficit in 9 months... the whole 20/21 CDN Federal Deficit over $350B...? A$ down hard as well...

So heard many longs in corn [365,000]; hard to believe the rally is over... but 'when' it breaks down... don't want to be near the exit door...

[sumdumguy]

78.59. Guess Trudeau’s dollar strengthening. 💪