September 28, 2012 at 04:00 AM EDT
Friday’s ETF Chart To Watch: CurrencyShares Canadian Dollar Trust (FXC)
The bulls finally returned to Wall Street after a prolonged stretch of profit taking throughout the week. Good news from all around the globe bolstered major equity indexes into bright green territory for the day; overseas, Spain unveiled a detailed austerity plan focused on massive spending cuts. At home, investors cheered on the latest employment report; weekly jobless claims were better-than-expected, with the figure coming in at 359,000 versus the anticipated 375,000 [see also Free Report: Seven Simple & Cheap All-ETF Model Portfolios]. Investors will turn their attention to the north prior to Wall Street’s opening bell as Canada’s GDP report comes out. As such, our ETF to watch for the day is the Rydex CurrencyShares Canadian Dollar Trust (FXC, A) which may experience volatile trading following the latest economic growth reading. Analysts are expecting for Canada’s economy to have expanded by 2.0%, marking a modest decline from the previous reading of [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Be Wary Of A Steeper Correction Canada ETFs: 9 Ways To Play ETF Insider: Momentum Hinges On ECB Hopes ETF Insider: Stocks In Free Fall Friday’s ETF Chart To Watch: CurrencyShares Canadian Dollar Trust (FXC)
The bulls finally returned to Wall Street after a prolonged stretch of profit taking throughout the week. Good news from all around the globe bolstered major equity indexes into bright green territory for the day; overseas, Spain unveiled a detailed austerity plan focused on massive spending cuts. At home, investors cheered on the latest employment report; weekly jobless claims were better-than-expected, with the figure coming in at 359,000 versus the anticipated 375,000 [see also Free Report: Seven Simple & Cheap All-ETF Model Portfolios]. Investors will turn their attention to the north prior to Wall Street’s opening bell as Canada’s GDP report comes out. As such, our ETF to watch for the day is the Rydex CurrencyShares Canadian Dollar Trust (FXC, A) which may experience volatile trading following the latest economic growth reading. Analysts are expecting for Canada’s economy to have expanded by 2.0%, marking a modest decline from the previous reading of [...]

Click here to read the original article on ETFdb.com.

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