Canadian Dollar, Uranium, and Energy Stocks

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Uranium stocks are higher this morning on news that China is looking to spend $700 million to $1 billion on the purchase of uranium producer companies. China needs to lock in uranium production for its 30 nuclear power plants that are operating or currently being constructed.

The Canadian Dollar has a mixed technical profile. Intermediate trend is neutral. The Dollar is locked in a five month trading range between 97.03 and 102.99. Short term momentum indicators are neutral. Technical evidence for an intermediate move above or below this trading range is lacking.

Uranium stocks are higher this morning on news that China is looking to spend $700 million to $1 billion on the purchase of uranium producer companies. China needs to lock in uranium production for its 30 nuclear power plants that are operating or currently being constructed. Major Canadian uranium producers including Cameco, Denison Mines and Uranium One are leading the TSX Materials Index on the upside this morning.

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