Canada and China have signed a reciprocal currency deal that’s expected to dramatically boost exports, and bypass the use of USD.
The hub will foster far easier trade between the Canadian dollar and the Chinese yuan, also known as the renminbi. It makes Canada the first country in the Americas to have a deal to trade in the renminbi.
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And we all thought that Canada was just another “American patsy/ pawn” eh?
How’s it goin eh?
Bravo Canada – Bravo!
Hey…let’s take off, eh!
Fun stuff John…..I was pretty shocked hearing the news / the headline.
Canada looking to take care of itself as this damn US Dollar becomes a thing of the past.
By the Gar, this is big news for me as I have been saying to myself for ages why don’t we get into this trade thing with China. Its a no brainer when you consider the population you are tapping into. Go Steven Harper….go go go. Here in Canada we’re doin’ fine and lets keep it that way.
I see it as a pretty bold move by Canada, and am surprised it’s not “bigger news”!
Certainly not seeing / hearing about it on CNN or CNBC!
You are absolutely correct about the “bigger news” aspect cause here in Canada its a whisper that occurred on Sunday. But then again we are a whisper in the macro economic sense but its just another move against the USD. I love it, question is when are we going to see the difference as we follow the slime trail to the snails derriere.
These days you never hear the big important news. It’s all propaganda!
In a normal world, or at least maybe before the 2010s, this kind of news would have shaken the markets…
Do you think we can get a decent swing short on USD/CAD? I was thinking we might have room to 111.25 area to start, but if market sells off ,, who knows
Best suggestion would be to “just get under it”.
Place a couple orders several pips ( 50, then 75 etc ) below current price, and just let the orders get picked up on momentum.