{"id":24191,"date":"2015-01-01T15:28:22","date_gmt":"2015-01-01T23:28:22","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=24191"},"modified":"2015-01-01T15:28:22","modified_gmt":"2015-01-01T23:28:22","slug":"canadian-export-growth-surged-just-as-the-canadian-dollar-staged-a-comeback","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2015\/01\/01\/canadian-export-growth-surged-just-as-the-canadian-dollar-staged-a-comeback\/","title":{"rendered":"Canadian Export Growth Surged Just As the Canadian Dollar Staged A Comeback"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on September 1, 2014. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Part of the thesis for my on-going bearishness on the Canadian dollar versus the U.S. dollar (FXC) has included the apparent dampening of exports by a (previously) stubbornly strong Canadian dollar. This assessment served me well through 2013 and into the first quarter of 2014 as the Canadian dollar gradually weakened. The momentum against the Canadian dollar came to a near climactic end at the end of January with the Canadian dollar hitting the final low for this cycle in late March. <\/p>\n


\n
\"Despite<\/a>
Despite a recent rebound, the overall trend for the Canadian dollar is down since its 2011 peak against the U.S. dollar<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

Exports indeed appeared to respond to the weakening Canadian dollar with very modest growth in 2013 that contrasted with the contraction in 2012. So, I was a bit surprised to see in the report for Canada’s second quarter GDP<\/a> a surge in export growth just as the Canadian dollar experienced exactly three months of strength against the U.S. dollar. {snip}<\/p>\n


\n
\"The<\/a>
The best quarterly performance for Canadian exports in almost three years<\/figcaption><\/figure>
\nSource: Statistics Canada<\/a><\/strong>
\n<\/center><\/p>\n

{snip}<\/p>\n

It is difficult to know what to expect next, but I will be keenly watching the next GDP report for any on-going momentum in exports. If my underlying thesis still holds water, the second quarter’s surge in export growth will become an outlier as the above chart suggests it could be. {snip}<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: short the Canadian dollar<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on September 1, 2014. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on September 1, 2014. Click here to read the entire piece.) Part of the thesis for my on-going bearishness on the Canadian dollar versus the U.S. dollar (FXC) has included the apparent dampening of exports by a (previously) stubbornly strong Canadian dollar. … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[59,20],"tags":[296,297,247,469],"class_list":["post-24191","post","type-post","status-publish","format-standard","hentry","category-economy","category-forex","tag-canadian-dollar","tag-fxc","tag-gdp","tag-usdcad"],"yoast_head":"\nCanadian Export Growth Surged Just As the Canadian Dollar Staged A Comeback - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2015\/01\/01\/canadian-export-growth-surged-just-as-the-canadian-dollar-staged-a-comeback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Export Growth Surged Just As the Canadian Dollar Staged A Comeback - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on September 1, 2014. 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