Forex: General Canadian Elections on May the 2nd

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General elections will be held in Canada on May the 2nd following the Prime Minister’s, Stephen Harpers Minority Conservative government downfall on a Non-confidence vote in the Parliament on March the 25th.

Parties of the opposite sides dove Harper on the basis that his government was contaminated by corruption, poor economic management and was in contempt of the Parliament. The Prime Minister states that the Liberals, which form the biggest opposition party, led by Michael Ignatieff, are not to be trusted to handle the country’s economy. The USDCAD pair is currently traded at 0.9639 and it is of high interest to see how the elections will affect the Canadian dollar especially after the USD’s gains from strong employment data.