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Why Parity Could Give You Huge Returns

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Why Parity Could Give You Huge Returns

Wednesday, 03 October 2007

By Charles Delvalle
The Canadian dollar (CAD) is now worth the same as the U.S. dollar (USD). And now there’s another currency set to do the same. Understanding which one it is will open you up to big gains in the next year. But first …
Parity is when the value of two currencies becomes equal.

Up until just a few days ago, the CAD was cheaper than the USD. But let’s face it, the Canadian economy is growing faster, has no budget or trade deficits, and isn’t slowing down.

Since the Canadian economy was performing better than ours, the two currencies reached parity.

But there’s another economy out there that is performing even better than Canada’s.

This country isn’t prone to slowing down with the U.S., has a currency that is 15 percent cheaper than the USD, and their biggest customer is CHINA!

I’m talking about the commodity powerhouse of Australia.

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Today, you can find the Australian dollar (AUD)/USD at 0.88399. In other words, an Australian dollar gets you roughly 88 cents in America.

And if you own this currency pair the day it reaches parity, you’ll make more money than you could imagine.

But a word of warning: wait until the dollar has recouped some of its recent losses before you buy the AUD/USD. Currencies offer a lot of leverage. And the last thing you want is to get out of a position early because of a short term move.
Source : Investors Daily Edge

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