Quantitative/Technical Strategist at Raymond James
Member since: Aug '18 · 659 Opinions
Has broken to new highs, along with its peers, but volumes have been declining recently. This is set up for a correction after this big run, so wait for that correction. He's very bullish on Canada for the next few years (Ottawa will spend on infrastructure). As for US, that is forcing Canada to look at Europe and China for more trade, such as natural gas. We're looking globally now, and not only to the south.
Yes, a good idea, given U.S. policies now which will debase the US currency. Also BRICS is helping the shift towards a gold standard, which will be positive for the Canadian dollar. Likes the CAD going forward very much. The USD will bounce the next 6-8 weeks, but the USD will remain in am overall downtrend. Since 2022, we're seeing lower highs and lower lows after an uptrend from 2020-2022. We saw a similar pattern in 2000 when the CAD was worth 62 cents then rose to around 2000 went the CAD was over par the USD. He sees a stronger CAD vs. the USD.
Same comments as Cargojet: Chart shows a downtrend, being a laggard, but lately is starting to catch up. You can nibble at here. If we're starting a new economic cycle now, it will be positive for CJT and the economy. Expect weakness in a pullback coming. Play the long game and start adding to this now, but gradually.