Candollar & Gold
August 5, 2020: Breakout and all-time high!
Because of its commodities and energy reserves, I expect Canada to become the 2nd richest country in the world...Canada has its problems but on a relative basis, it is coming through the crisis in healthier shape than the USA. The Canadian economy is diversified. They mine important commodities and the banking sector is less dangerous (see the chart of the Imperial Bank of Commerce in section Banks). Bear in mind that over the past year the FINANCIAL situation of Canada has been DEGRADING(May 2018).
Recently, the country lost its AAA rating!
According to research by SocGen, by 2040 Canada will be the only G7 country with investment-grade sovereign debt. By as early as 2030 the US, France, Italy, and Japan will all lose investment-grade status. To put this into perspective this means that in less than two decades the debt of countries currently representing approximately 50% of global GDP will be ineligible for investment by the smallest municipal pension fund.
|Bullish Objective||c$ 3,200 - 3,800
|Bearish Objective||c$ 1580|
|Technical pattern||Historic top after Historic Top|
Canadian Dollar versus the US dollar.
The Canadian dollar is a commodity currency but is destroyed by the IDIOT leadership of Trudeau who sold ALL the Canadian Gold! Time to get out...
Euro versus Canadian Dollar
|Technical Pattern||Bullish Euro
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