Candollar & Gold
July 11, 2021: Bull run and end of correction!
Because of its commodities and energy reserves, I expected Canada to become the 2nd richest country in the world...Canada has its problems. The Canadian economy is diversified. They mine important commodities and the banking sector is less dangerous (see the chart of the Imperial Bank of Commerce in section Banks). The Socialist Government run by Trudeau Junior is however ruining the country. Bear in mind that over the past year the FINANCIAL situation of Canada has been DEGRADING (May 2018).
Recently, the country lost its AAA rating!
By 2040 Canada will no longer be a G7 country with investment-grade sovereign debt. By as early as 2030 the US, France, Italy, and Japan will all lose investment-grade status. To put this into perspective this means that in less than two decades the debt of countries currently representing approximately 50% of global GDP will be ineligible for investment by the smallest municipal pension fund.
|Bullish Objective||c$ 3,800
|Bearish Objective||c$ 1980|
|Technical pattern||End of correction
Canadian Dollar versus the US dollar.
The Canadian dollar is a commodity currency but is destroyed by the IDIOT leadership of Trudeau who sold ALL the Canadian Gold! Time to get out...
Euro versus Canadian Dollar
|Technical Pattern||Bullish Euro
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