loonie pierces 38.2 fib at 10853, risk is now towards 1.0809 the 50% fib. at that point short term oversold. i will be looking at 1.08 calls at that level, expiry for end next week.
spot longs will start below 1.08 with stops under 10764 the 61.8%
Cape May jb 10:13:55 GMT - 08/27/2014
I've always wondered about the mechanics of cross-border take-overs. There is no way money will be transferred until the transaction has been approved by all parties, including government authorities. On the other hand, at some point a price has to be fixed, and that includes the exchange rate. That could be done early on via forward contracts, which would not involve a transfer of funds, but would immediately impact the forex markets.
Whether they hedge or not, either way the parties are taking a significant exchange risk depending on whether the deal goes though or not. Keep in mind, these days a lot of deals ultimately don't happen.
Anyone have thoughts?
london red 09:33:35 GMT - 08/27/2014
i heard that mentioned too, but in regards to it being a bit early down the road to be a factor, although its a headwind all the same. im hearing more month end and long weekend profit take.
200 day looks at risk as if we see some dollar sales in the major then you fancy loonie wont stay where it is. thing risk to 10840-60 possible, but think longs down there with stops under 1.08 should work for 1.10 in sept.
UK CT 09:25:23 GMT - 08/27/2014
Is 11.5bn Burger King takeover of Tim Horten why USDCAD is lower
london red 07:17:50 GMT - 08/27/2014
cad has pierced 23.6% at 10908 and now targets the 200 day ma at 10885. cable fails to break 16537 fib convincingly a second time and 16605 remains in play. some reasonable volume on london open came with this morning spike higher.
finally it seems we are getting some profit taking, whether its month end or pre long weekend i dont know, but it shouldnt mean the dollar run is over medium term.
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