Market Watch with Tom Waitt

July_6th_2011.mp3 Canadian Dollar Peak?    Has the Canadian Dollar peaked?   Canadian Dollar - US 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 1.0585 failed to test the 1.1038 record high. A key level is now last weeks high of 1.0435. Currently 1.0338 a test of last month's low of 1.0089 and the 200 day moving average of 1.0117 acts as support. 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 2007. The $25,000 U.S. car would have cost $40,460 in 2002 but only would have cost only $22,649 in 20