2012 in review


The WordPress.com stats helper monkeys prepared a 2012 annual report for this blog.

Here’s an excerpt:

The new Boeing 787 Dreamliner can carry about 250 passengers. This blog was viewed about 1,500 times in 2012. If it were a Dreamliner, it would take about 6 trips to carry that many people.

Click here to see the complete report.

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Loonieviews December 31, 2012


December 31, 2012

USD/CAD 0.9955-60 Overnight Range: 0.9933-0.9975

The Canadian dollar looks like it will end the year above parity after spending the overnight session trading on the defensive. The lack of a resolution to the fiscal cliff debacle combined with a lack of liquidity do to year end festivities made for a very dull night. Global equity indices were a mixed bag, all trading either side of flat although NY equity index futures are in positive territory. WTI is $90.17 and gold is $1,664.28.

The short term USD/CAD technicals are bullish looking for a break of resistance at 0.9970 and then the 200 day moving average at 0.9990 to extend gains to 1.0070. A move below 0.9930 negates the upside pressure

And in other news, officials at Sunnybrook Veterans Center reacted quickly to a complaint about bed-bugs. They called police and had the woman making the complaint frog-marched out of the facility and barred her from returning. Once again, asses with authority team up with boneheads with badges to avoid accountability while eagerly slurping at the public trough. Happy New Year

Today’s Range 0.9930-9990

The content and opinions expressed within this commentary are solely those of the author(s) and are not necessarily shared by Jitney Trade. The data and comments provided herein are for informational purposes only and must not be construed as an indication or guarantee of any kind of what the future performance of the concerned markets will be. There is a substantial risk of loss in trading commodity futures, options and foreign exchange products and is not suitable for all investors. Contact your account representative for more information on these risks. Information and opinions contained herein come from sources believed to be reliable but are not guaranteed as to accuracy or completeness. Please carefully consider your financial condition prior to making any trading decisions.

Michael O’Neill

Vice President, FX Trading

Tél.647-345-9099

Loonieviews December 28, 2012


December 28, 2012

USD/CAD 0.9946-51 Overnight Range: 0.9940-0.9956

The Canadian dollar barely budged overnight. Yearend holidays and fiscal cliff brinkmanship provided enough incentive for the poor mopes at work ignore the markets and concentrate on lunch. In addition lousy weather in the US and Canada encouraged workers to stay home. Montreal is digging out from over 2 feet of snow and doing so without calling in the Canadian army. Asian equity indices rose while European equity indices and NY equity futures indexes were all down slightly. WTI oil is $91.09 and gold is $1,661.09

The current USD/CAD trading band of 0.9910-60 remains intact. A break to the top will find resistance at both 0.9980 and 1.0010. A move through 0.9910 will find support at 0.9880.

And in other news, an unlucky car thief was shot multiple times by Durham Police when he attempted to steal a hearse from a funeral home. Initially, EMT workers were elated to find a body already in a hearse right outside a funeral home, saving everyone involved hours and hours of time. Unfortunately, the thief lived.

Today’s Range 0.9910-60

The content and opinions expressed within this commentary are solely those of the author(s) and are not necessarily shared by Jitney Trade. The data and comments provided herein are for informational purposes only and must not be construed as an indication or guarantee of any kind of what the future performance of the concerned markets will be. There is a substantial risk of loss in trading commodity futures, options and foreign exchange products and is not suitable for all investors. Contact your account representative for more information on these risks. Information and opinions contained herein come from sources believed to be reliable but are not guaranteed as to accuracy or completeness. Please carefully consider your financial condition prior to making any trading decisions.

Michael O’Neill

Vice President, FX Trading

Tél.647-345-9099

Loonieviews December 27, 2012


December 27, 2012

USD/CAD 0.9918-23 Range: Dec 21 to Dec.27 0.9876-0.9952

The Canadian dollar may have been on Santa’s naughty list on the run-up to Christmas and then stayed in a 0.9910-57 band during the Christmas break. The pre-holiday theme of budget discord provided mixed results. Global equity indices squeaked out some gains on anticipation that neither the Republicans nor Democrats are stupid enough to bring on another recession. NY equity futures indexes are in the green as well. The Canadian dollar softness is likely attributable to year end demand for dollars for repatriation. US Jobless claims were better than forecast at 350K (forecast 360k) but markets are too thin to care. Gold is $1,656.34 and WTI Oil is $91.23

The short term USD/CAD technicals are mixed within a 0.9910-60 trading band. A move above 0.9960 argues for further US dollar gains to 1.0010 while a dip through 0.9910 points to 0.9860. For today, USD support is at 0.9910 and 0.9890. Resistance is at 0.9940 and 0.9960

Hourly Chart from Dec.17

Daily chart

And in other news, a Cornwall family, Stephen and Stephanie Duroscher, expected to receive a home from Habitat for Humanity, but the donation may be rescinded because the couple were charged with running aq grow-op at their previous residence. Habitat for Humanity officials are referring the family to their sister organization, Houses for Hop-heads

Today’s Range 0.9910-60

The content and opinions expressed within this commentary are solely those of the author(s) and are not necessarily shared by Jitney Trade. The data and comments provided herein are for informational purposes only and must not be construed as an indication or guarantee of any kind of what the future performance of the concerned markets will be. There is a substantial risk of loss in trading commodity futures, options and foreign exchange products and is not suitable for all investors. Contact your account representative for more information on these risks. Information and opinions contained herein come from sources believed to be reliable but are not guaranteed as to accuracy or completeness. Please carefully consider your financial condition prior to making any trading decisions.

Michael O’Neill

Vice President, FX Trading

Tél.647-345-9099

Loonieviews December 20, 2012


December 20, 2012

USD/CAD 0.9887-92 Overnight Range: 0.9879-0.9892

The Canadian dollar continued to quietly retreat overnight undermined by brinkmanship in the US fiscal cliff talks. In Asia, the BoJ elected to increase its asset purchase fund to the tune of $119 billion dollars. The news was met with JPY buying on profit taking in a “buy the rumor-sell the fact” scenario. Asian equity indices were mixed. The Nikkei dropped while the Hang Seng and ASX 200 had small gains. European equity indices were mostly flat and NY equity index futures are modestly higher. Gold is $1,667.85 and WTI is $90.03. Canada releases Retail Sales (forecast 0.2% MoM). The US releases Jobless claims ( 360K) GDP (QoQ annualized 2.8%), Philly Fed, and Home Sales

The short term USD/CAD technicals are bullish looking for a break of resistance in the 0.9905-10 area to extend gains to 0.9950-60 zone. A good defense of the 0.9905 area is at 0.9887 (100 day m.a) and 0.9890 (200 day m.a) A move back through the 0.9860-70 area would negate the bullish pressure leading to further 0.9830-0.9890 consolidation.

There is a lot of data out today which may add to the volatility in USD/CAD however the fiscal cliff yammering will remain the key currency driver. Trading activity is also likely to be curtailed by the end of the world, tomorrow.

And in other news, a sticky situation got less sticky with news that Quebec police made arrests in the massive Maple Syrup Heist, a caper that threatened to disrupt pancake sales worldwide. There is no truth to the rumor that the felons were arrest outside an IHOP, attempting to sell 4 oz souvenir bottles, freshly filled from a tanker truck. Those people were from Newfoundland.

Today’s Range 0.9860-0.9905 Merry Christmas-Next Loonieviews December 27

The content and opinions expressed within this commentary are solely those of the author(s) and are not necessarily shared by Jitney Trade. The data and comments provided herein are for informational purposes only and must not be construed as an indication or guarantee of any kind of what the future performance of the concerned markets will be. There is a substantial risk of loss in trading commodity futures, options and foreign exchange products and is not suitable for all investors. Contact your account representative for more information on these risks. Information and opinions contained herein come from sources believed to be reliable but are not guaranteed as to accuracy or completeness. Please carefully consider your financial condition prior to making any trading decisions.

Michael O’Neill

Vice President, FX Trading

Tél.647-345-9099

Loonieviews December 19, 2012


December 19, 2012

USD/CAD 0.9852-6=57 Overnight Range: 0.9850-0.9867

The Canadian dollar had another deathly dull session overnight even as the US dollar retreated against the majors allowing EUR/USD to post another post April high on a combination of reduced Euro zone debt fears and an improved outlook for US fiscal cliff negotiations. An improved German IFO business climate survey helped the EUR/USD cause as well. The USD/JPY motored higher on increased expectations of BOJ easing. The US releases housing starts and building permits today. WTI oil is $88.60 and gold is $1,673.22

The short term USD/CAD technicals are modestly bullish while trading above 0.9850 looking to break 0.9870 to extend gains to 0.9890. These intra-day movements are merely “noise” in the context of the well-defined downward sloping US dollar trend. For today, USD support is at 0.9850 and 0.9830. Resistance is at 0.9870 and 0.9890

And in other news, American’s are scrambling to arm themselves, afraid that gun control legislation will be enacted. This has resulted in record sales at gun shops across the country. In the Great White North, nervous Canadians are clamoring for a massive wall to be built along the 49th parallel and the relocation of the Rio Grande to Manitoba/Saskachewan to prevent pistol packing American’s from crossing over.

Today’s Range 0.9830-0.9870

The content and opinions expressed within this commentary are solely those of the author(s) and are not necessarily shared by Jitney Trade. The data and comments provided herein are for informational purposes only and must not be construed as an indication or guarantee of any kind of what the future performance of the concerned markets will be. There is a substantial risk of loss in trading commodity futures, options and foreign exchange products and is not suitable for all investors. Contact your account representative for more information on these risks. Information and opinions contained herein come from sources believed to be reliable but are not guaranteed as to accuracy or completeness. Please carefully consider your financial condition prior to making any trading decisions.

Michael O’Neill

Vice President, FX Trading

Tél.647-345-9099

Loonieviews December 18, 2012


December 18, 2012

USD/CAD 0.9844-49 Overnight Range: 0.9832-0.9850

The Canadian dollar trade sideways in an uneventful session with little in the way of fresh stimulus to provide any direction. Talk of headway in the Fiscal cliff negotiations failed to inspire much interest as trading appears to have wound down for the year. With the exception if the Hang Seng, global equity indices are all in the green as are NY equity index futures. Gold is $1,698.84 and WTI oil is $87.72. There is no data of note today except the US Current Account balance.

The short term USD/CAD technicals are bearish while trading below 0.9890 but need to break support at 0.9830 to extend gains to 0.9770. For today, USD support is at 0.9830 and 0.9810. Resistance is at 0.9850 and 0.9860.

And in other news, Toronto Area teachers have walked off the job today. The teachers union says they are only striking to “to protect the rights of all workers and prevent the government from passing legislation to end strikes and impose contracts” What they really mean is that the teachers unions want to keep the ability to hold taxpayers hostage while working a 30 hour week (for 60 hr. a week money) for 9 months of a year

Today’s Range 0.9830-0.9860

The content and opinions expressed within this commentary are solely those of the author(s) and are not necessarily shared by Jitney Trade. The data and comments provided herein are for informational purposes only and must not be construed as an indication or guarantee of any kind of what the future performance of the concerned markets will be. There is a substantial risk of loss in trading commodity futures, options and foreign exchange products and is not suitable for all investors. Contact your account representative for more information on these risks. Information and opinions contained herein come from sources believed to be reliable but are not guaranteed as to accuracy or completeness. Please carefully consider your financial condition prior to making any trading decisions.

Michael O’Neill

Vice President, FX Trading

Tél.647-345-9099