Canada’s Dollar Strengthens to 20-Month High as Oil Advances

Is the door wide open to parity because of grinding oil or eroding dollar? I would go with the latter.

“The door is wide open” to parity, said Christian Dupont, a trader at Desjardins Group in Montreal, who predicted the loonie would reach a one-for-one basis this week. Oil “grinding higher” is the main reason for the appreciation today, he said.

What the media either cannot see or ignores is that the pendulum has swung to favor gold over oil.

West Texas Intermediate Crude Oil to Gold Ratio (Oil/Gold):


Source: businessweek.com