CPM: Money-market (Day 685)
Day 685, 19:01
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Published in Canada 
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by
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by Addy Lawrence
Day 685
Remember to vote for Cham. Cham for PM!!!
Well, this is a record for me, three articles in one night!!!
International Market
The pool of CA$ offers on the market continues to reach record heights, climbing all the way to $31,339.73, up $573.14 or 1.9% from yesterday's $30,766.59.
On average, these offers are seeking 0.0312 gold per CA$1.00 which is down 0.0002 from yesterday. The the eCanadian government approved an issue of CA$40,000 yesterday, this should put additional downward pressure on the value of the CA$1.00.
The eCanadian government approvals made during the life of this study are as follows:
Day 684 = CA$40,000.00, trading @ 0.0314
Day 682 = CA$04,000.00, trading @ 0.0324
Day 671 = CA$40,000.00, trading @ 0.0291
Day 663 = CA$30,000.00, trading @ 0.0302
I'm currently recommending to move to gold as the CA$ has been falling the last two days and the government issue will building momentum.
Local Market
The offers of gold totaled 100.94, dropping 18.81 or 15.7% from yesterday's 119.75 gold. The CA$ sought in return for offers of gold averaged $34.521, down by $0.262 or 0.8% from yesterday's $34.783.
The glut of gold offers has been digested by the International market and gold is looking to get more expensive to holders of CA$ over the next few days.
The cheapest offer for 1 gold was CA$33.500.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ 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 0.0290 gold per CA$, calculated as 1G/CA$34.521; this is an all-time high. The international rate is 0.0312. The arbitrage, or spread between the two, is 0.0022. This is still a relatively large spread however it is tightening and trading activity is cooling off.
Who's your Daddy? Addy's your daddy!!!
Remember to vote for Cham. Cham for PM!!!
Well, this is a record for me, three articles in one night!!!
International Market
The pool of CA$ offers on the market continues to reach record heights, climbing all the way to $31,339.73, up $573.14 or 1.9% from yesterday's $30,766.59.
On average, these offers are seeking 0.0312 gold per CA$1.00 which is down 0.0002 from yesterday. The the eCanadian government approved an issue of CA$40,000 yesterday, this should put additional downward pressure on the value of the CA$1.00.
The eCanadian government approvals made during the life of this study are as follows:
Day 684 = CA$40,000.00, trading @ 0.0314
Day 682 = CA$04,000.00, trading @ 0.0324
Day 671 = CA$40,000.00, trading @ 0.0291
Day 663 = CA$30,000.00, trading @ 0.0302
I'm currently recommending to move to gold as the CA$ has been falling the last two days and the government issue will building momentum.
Local Market
The offers of gold totaled 100.94, dropping 18.81 or 15.7% from yesterday's 119.75 gold. The CA$ sought in return for offers of gold averaged $34.521, down by $0.262 or 0.8% from yesterday's $34.783.
The glut of gold offers has been digested by the International market and gold is looking to get more expensive to holders of CA$ over the next few days.
The cheapest offer for 1 gold was CA$33.500.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ 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 0.0290 gold per CA$, calculated as 1G/CA$34.521; this is an all-time high. The international rate is 0.0312. The arbitrage, or spread between the two, is 0.0022. This is still a relatively large spread however it is tightening and trading activity is cooling off.
Who's your Daddy? Addy's your daddy!!!
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Comments
thanks addy will you be my financial guru 🙂
Excellent analysis. Voted and subscribed.