Our technical work has been suggesting the likelihood of a US dollar rally for some weeks now. Today we are seeing that positive dollar trend continue with the now familiar accompanying sell-off in risk assets.
Today Mike Mish Shedlock gives a good summary of the likely macro reasons spurring the U dollar rally here. See Global Accidents Support US Dollar Rally.
Note that an American market commentator, Mike lists the “Canadian property bubble bursting” as one of his US dollar positives. My sense here is that most Canadians do not understand the potential risk we are facing with our over-indebted population and over-bought realty market.
Follow
____________________________
;
Bidding wars by mostly Chinese are very common here in Vancouver lately. Sooner or later the bottom will fall out inevitably.
I don't think this scenery is worth 50+ times earnings, because when the heavy and steady rain sets in for 4 long months, it's not pretty. During Ms. Park's visit the weather was unusually nice.
For far less money and similarly nice surroundings there are places like Taormina or Capri where life is awesome year round.