Obama win and early market reactions

Wednesday, November 05, 2008 | posted by RedApple
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We are seeing a couple of things so far today and reflecting on Obama's theme:

1. Crude off 6% (energy independence)
2. Euro and Sterling up slightly (Rumour : middle eastern selling Dollar... see our earlier post for possible reasons)
3. Canadian dollar and Mexican Peso off 1% (calling off NAFTA)

Given the level of CAD (presently at 1.1690 and the recent high is 1.30), maybe USDCAD is a good buy now. (see USDCAD chart below)