Obama win and early market reactions

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)