Chapter 1307: The first hurdle of the general election is overcome
The next day, the Chicago Consortium launched the first fierce offensive.
A sell order of up to 2 billion Canadian dollars was placed!
For nearly two months, the Canadian dollar exchange rate had fluctuated violently, fluctuating around 0.8279.
But now, after this sell order was placed, the exchange rate of the Canadian dollar plummeted, quickly falling to 0.8250 and still falling rapidly.
All the long and short positions in the market realised that the war had finally broken out.
The shorts all made their moves, selling large amounts of Canadian dollars.
The exchange rate of the Canadian dollar continued to plummet.
0.8239.
0.8222.
...
0.8178
In just one minute, the Canadian dollar exchange rate fell by 0.01 points.
At this point, the bulls also reacted, and they opened positions to buy, spending large amounts of prepared US dollars to receive the sold Canadian dollars.
The bulls will not let the bears gain the upper hand. They must firmly hold the line, resist this wave of attacks, and fight back!
In just one morning, the foreign exchange trading volume of the US dollar and the Canadian dollar exceeded 20 billion US dollars!
This figure directly broke the daily trading record of the Canadian dollar!
Speaking of this, we have to talk about the global foreign exchange market in this era.
From the 1930s to the 1960s, the global foreign exchange market developed very slowly.
However, with the development of computer technology, the financial market gradually became electronic, and the global foreign exchange market entered the 1980s and experienced explosive growth.
Today, the average daily trading volume of the global foreign exchange market has exceeded 100 billion US dollars!
Of course, at the time of Xia Yu's rebirth, the average daily trading volume of the global foreign exchange market reached more than 6.6 trillion US dollars, and the total trading volume exceeded 240 trillion US dollars!
Of course, nowadays the average daily trading volume of the foreign exchange market is already over 100 billion US dollars, and the trading volume of the Canadian dollar was only about 3 billion to 5 billion US dollars last year.
But this time, after all, it was an extraordinary situation, a huge crisis facing the Canadian financial market, and with global funds rushing to Canada, the situation was naturally different.
Under the short-term speculative operations of many hot money, the trading volume skyrocketed like a manipulated data.
In the afternoon, the Chicago consortium launched the second wave of fierce attacks, and in a short period of time, another 2 billion Canadian dollars of sell orders were thrown out.
Other institutions also followed suit.
The pressure on the bulls surged, and the exchange rate of around 0.8170, which had been maintained with difficulty, was shattered.
0.8152.
0.8143.
0.8131.
...
And just as the Canadian foreign exchange market was in a state of chaos.
Canada's stock market was also negatively affected.
The momentum of the stock market's two consecutive months of gains was interrupted. The Toronto 300 Index fluctuated violently around 2,450 points, then slid to around 2,440 points and then stabilised.
The trading volume of the stock market has dropped significantly.
The reason for this is that major institutions have gradually withdrawn assets into the foreign exchange market.
Today, the foreign exchange market is the biggest battleground in the Canadian financial market, and it is also the outermost battleground.
For the time being, the bears have not yet launched an attack on the Canadian stock market.
While the bulls and bears are fighting fiercely,
Canada's political situation has also reached a critical moment.
The second round of the Liberal Party of Canada's leadership election has arrived.
The voting rights for the Liberal Party's leadership election belong to Liberal Party members who are also members of the House of Commons.
In the first round of voting, more than 20 candidates were eliminated, with only six entering the second round.
The second round of voting will determine who will be the new leader of the Liberal Party.
The venue for the election is located in the large meeting room of the Liberal Party, with more than 300 people in attendance, including Liberal MPs and others.
The six candidates, John Napier Turner, Joseph Chrétien, Iona Campagnolo, André Marrube, Haroun Rougier and Markus Wilhelm, gathered in a designated area after making their final speeches and canvassing for votes.
When it came time to vote, starting from the first row, more than 200 delegates sequentially cast their ballots into the sealed ballot box.
'Turner and Chrétien, I think the winner will be one of you two.'
Iona Campagnolo, as the only female candidate, was indeed in a better position to start a conversation, and she smiled as she spoke to John Napier Turner and Joseph Chrétien.
The other three candidates looked at each other with a wry smile. They had tried their best, but they knew their situation. They had no chance this time and were just here to accompany the election.
'Until the result is announced, everything is uncertain. After all, the right to vote is not in my hands,'
said Joseph Clément with a smile.
Compared to him, John Napier Turner's mood was much heavier. After the first round was over, his task of canvassing votes had become much more difficult. He already sensed that something was wrong.
He had promised all the resources or positions he could, and he had done his best!
'The voting is over, and the counting of votes has begun,'
John Napier Turner looked at the staff on the podium as they prepared to open the box, his fists clenching involuntarily as he spoke in a low voice.
The eyes of the six people were all focused on the podium.
After checking that the number of votes collected was correct, the counting of the votes officially began.
As expected, Joseph Chretien, John Napier Turner and Iona Campagnolo were leading from the start, with the other three only getting one vote every now and then.
When the votes had been counted halfway through, Iona Campanello gave a helpless smile: 'Sure enough, I'm already clearly behind you two.'
However, in response to Iona Campanello's words, both Joseph Crétien and John Napier Turner returned a smile, and then continued to fix their gaze on the tally board.
When the last vote had been counted,
the voting results were announced.
Joseph Cleridan received 94 votes.
John Napier Turner received 78 votes.
Iona Campanello received 43 votes.
André Marbre received 6 votes.
Harlan Rogel received 4 votes.
Marcus Wilhelm received 3 votes.
There is no doubt that Joseph Cleridan will become the new leader of the Liberal Party.
'I now declare the new party leader to be Joseph Clerment!'
'Please ask Joseph Clerment to come up to the stage.'
On the stage, Pierre, the current party leader, took the microphone and announced the result.
'Clap, clap, clap...'
There was an outburst of applause from the audience.
'Congratulations, Joseph!'
'Congratulations, Joseph, on becoming party leader.'
'I still lost, congratulations!'
John Napier Turner, his face pale, forced a smile and congratulated Joseph Chrétien, shaking his hand.
'Thank you all!'
'I'll go up first,'
said Joseph Chrétien, and with measured steps he ascended the podium once more.
'First of all, I would like to express my sincere thanks to everyone for electing me as the new party leader...'
His acceptance speech had been prepared long ago and was already well-rehearsed.
Pierre, sitting in the front row, couldn't help smiling as he watched the spirited Joseph Chrétien on the podium.
Compared to John Napier Turner, Joseph Chrétien was much more to his liking.
In fact, he had supported Joseph Chrétien in the party election, apart from his recognition of Joseph Chrétien's ability to get things done.
The most important reason was that John Napier Turner's resources came mostly from the United States, while Joseph Chrétien found a consortium in the United Kingdom.
Although he was previously elected Prime Minister of Canada with the resources of the American consortium, it does not mean that his position has not changed.
Times have changed. American capital is gaining influence in Canada, and now it is even attacking Canada's financial market. Naturally, he cannot remain indifferent.
Especially after Reagan came to power, he and Reagan had many conflicts, which is why he must support British capital.
Canada is, after all, a member of the British Commonwealth, and a key member at that.
It's just that...
Pierre's smile vanished at the thought of the Progressive Conservative Party and the Liberal Party's poll ratings.
Looking at Joseph Chrétien on stage, he worriedly muttered, 'I hope Joseph can lead the Liberal Party to hold its ground...'
After the election, Joseph Chrétien received an invitation from Pierre to meet with him in private.