Intraday Market Thoughts

Archived IMT (2010.07.08)

by Ashraf Laidi
Jul 8, 2010 13:44

FROM CHINA TO CANADA. As US lawmakers stand against China's Anshan plans to form a joint venture Mississippi-based Steel Development Co on the basis of threatening US job and national security, Chinese companies are encouraged to go North of the Border. USD billions more from Chinese companies will be spent in Canadian oil and gas properties in coming years, according to Canadas Globe and Mail newspaper. CNOOC Canada said in recent interview "there will be more billion dollar deals between China and Canadian companies". USDCAD eyes 1.0380, CADCHF looks for an important rebound at 1.0220, while CADJPY to test 85.70.


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