Reply #125: Closing numbers

[TrogL]

Current values

http://quotes.ino.com/exchanges/?r=CME_CD)

Market            Open   High    Low   Last  Change    Pct 
CD.Y$$ Cash     1.1019 1.1019 1.0839 1.0839 +0.0001 +0.01% 
CD.Z07 Dec 2007 1.1009 1.1009 1.0837 1.0835 -0.0002 -0.02% 
CD.H08 Mar 2008 1.1001 1.1001 1.0840 1.0835 -0.0003 -0.03% 
CD.M08 Jun 2008 1.0962 1.0965 1.0945 1.0833 -0.0003 -0.03% 
CD.U08 Sep 2008 1.0877 1.0877 1.0877 1.0830 -0.0003 -0.03% 
CD.Z08 Dec 2008 1.0501 1.0550 1.0500 1.0825 -0.0003 -0.03% 
CD.H09 Mar 2009 1.0927 1.0927 1.0927 1.0820 -0.0003 -0.03% 

Blather

The December Canadian dollar closed down 2 points at 1.0835 today. Prices closed near the session low today after
hitting a fresh contract and 30-year high early on. Today's price action produced a bearish buying "exhaustion tail," whereby buying interest dried up at higher levels and prices backed way off.

Analysis

This is rather misleading in terms of the North American markets where in terms of overnight numbers it didn't really go anywhere. Speculation in the Eastern markets blew it up all out of proportion and saner heads prevailed (at least for today).