CPM: Money-market (Day 667)

Day 667, 20:14 • Published in Canada Canada • by Addy Lawrence

Day 667, war with Iran breaks out, I registered 246 damage and looking for more!!!

A gentle reminder, look for me on your Congressional ballots this month, I'm running in Newfoundland under the banner of Canadian Progressive Front. Please consider voting for me and PLEASE VOTE PERIOD!!!

I am off to an out of town wedding in RL, there will be no update for Day 668 & 669, I will return on 670 for Money Market and the Commondity, Product, Labour Report.

International Market

There was another big run of CA$ offers on the market today, running all the way to $25,990.10, up $7,190.15 or 38.2% from yesterday's $18,799.95. This change more than doubles the previous high ($3,277.01) for a daily change.

On average, these offers are seeking 0.0296 gold per CA$1.00 which is down 0.7% from yesterday's 0.0298 gold.

The eCanadian government approved the issue of CA$30,000.00 on Day 663 (four days ago) so this will bring down the value of the eCanadian dollar on international markets. The CA$ was trading at .302 gold at the time of the approval. The two day increase of offers of more than $10k is a good indication that the market is being forced to absorb this.

If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop.

Local Market

The offers of gold totaled 84.38 and were relatively flat at 1.86, or 2.2%, lower than yesterday's 86.24 gold.

The CA$ sought in return averaged $36.251, up slightly by $0.30 or 0.8% from yesterday's $35.946.

The gold available to holders of CA$ is consistent with yesterday but the abundance of CA$ pushed up the price of gold. With the recent issue of money by the Canadian government (30,000 on Day 663), there is proportionately more CA$ available than gold so look for the gold offers to be gobbled up quickly, or rise in price.

The cheapest offer for 1 gold was CA$35.98.

Arbitrage

Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.

The implied rate on the local market is 0.0276 gold per CA$, calculated as 1G/CA$36.251. The international rate is 0.0296. The arbitrage, or spread between the two, is 0.0020. Today's spread is spot on with yesterday's 0.0020. A tighter spread means less opportunity to take advantage of arbitrage.

Who's your daddy? Addy's your daddy!!!