Bloomberg confirming Nexen decision

View Comments

Canada said to approve $15.1B takeover.

Globe & Mail also reporting it’s a done deal.

Official statement at the top of the hour will be the final confirmation.

This is the medium-term CAD catalyst. Expect USD/CAD to sink for a period on this.

Author: Adam Button

Adam Button is the managing editor of ForexLiveā„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.


  1. Hi Adam:
    With them saying ‘exceptional basis’, do you still see CAD rallying next week? how far in your opinion would USDCAD and AUDCAD move?
    Cheers and have an awesome weekend

  2. Hi Neil, the government closed the door on future SOE investment so it’s not as great for CAD as it could have been but it removes significant uncertainty. Tough to guess where we’ll be next week with the fiscal cliff as a constant threat but once that’s sorted out (and it will be) expect USD/CAD down to 0.9600


© Copyright 2014 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.