Market Watch with Tom Waitt

September_7th_2011.mp3 Breaking Parity    Hope you enjoyed a strong Canadian Dollar, we are about to break parity. Canadian Dollar - U.S. Dollar (Click For Larger Picture) In the last 3 ½ years we have seen the Canadian against the U.S. dollar trade as high as 1.1038 and as low as .7656. Recent high of 1.0630 failed to test the 1.1038 record high and established a lower high downtread. A key uptrend has been broken leaving resistance at 1.0554. The chart shows the Canadian Dollar over the last 5 years. Currently 1.0120 a test of last month's low of .9991is in store. Failure to hold would put the Canadian currency under par in the .97 to .99 area. Global markets operate 24/7; the most active is the currency market which affects the price of everyday purchases and investments. To realize the absolute value of currency exchange rates consider this; a $25,000 U.S. car; the post war low on the Canadian dollar was .6179 in 2002 and reached a premium high against the U.S. of 1.1038 in 20