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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000897069-07-000536.txt : 20070220
<SEC-HEADER>0000897069-07-000536.hdr.sgml : 20070219
<ACCEPTANCE-DATETIME>20070220170536
ACCESSION NUMBER:		0000897069-07-000536
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20070220
DATE AS OF CHANGE:		20070220

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CURRENCYSHARES CANADIAN DOLLAR TRUST
		CENTRAL INDEX KEY:			0001353612
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-132363
		FILM NUMBER:		07636238

	BUSINESS ADDRESS:	
		STREET 1:		C/O RYDEX INVESTMENTS, ATTN: TIM MEYER
		STREET 2:		9601 BLACKWELL ROAD, SUITE 500
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301-296-5129

	MAIL ADDRESS:	
		STREET 1:		C/O RYDEX INVESTMENTS, ATTN: TIM MEYER
		STREET 2:		9601 BLACKWELL ROAD, SUITE 500
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CURRENCYSHARES CANADIAN DOLLAR TRUST
		CENTRAL INDEX KEY:			0001353612
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		C/O RYDEX INVESTMENTS, ATTN: TIM MEYER
		STREET 2:		9601 BLACKWELL ROAD, SUITE 500
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301-296-5129

	MAIL ADDRESS:	
		STREET 1:		C/O RYDEX INVESTMENTS, ATTN: TIM MEYER
		STREET 2:		9601 BLACKWELL ROAD, SUITE 500
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
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<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Filed Pursuant to Rule
433<BR>Registration No.: 333-132363  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The CurrencyShares<SUP>SM</SUP>
Canadian Dollar Trust has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest, you should
read the prospectus in that registration statement and other documents the issuer has
filed with the SEC for more complete information about the issuer and this offering. You
may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the issuer and any offering participant will arrange to send you the
prospectus if you request it by calling toll-free 1-800-820-0888. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The following article was posted on
the TheStreet.com website on February 7, 2007. As of that date, it was accessible for free
on the internet by visiting:
http://www.thestreet.com/pf/_tsclsii/funds/fundmorning/10337250.html. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Forex Funds for Bulls
and Bears
<BR>By <U>Jen Ryan</U> <BR>TheStreet.com Personal
Finance Reporter <BR>2/7/2007 8:22 AM EST </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>In recent years, the weak dollar has
helped boost the appeal of foreign stocks and bond funds, as the returns generated by
these securities look even better when converted into dollars and cents. But there&#146;s
also growing interest in a relatively new investment category: funds that invest directly
in foreign currencies. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Currency funds can provide investors
with exposure to international markets without the risk of the individual companies that
issue stocks and bonds &#151; which could be particularly appealing now that foreign stock
and bond funds have had such a strong run. They also can be used to hedge specific
holdings that are particularly exposed to currency shifts. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The first few offerings in this
category were open-end mutual funds, but over the past year or so, a number of
exchange-traded funds that track currencies have been launched, providing some low-cost
options for investors who are active traders. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>While there are reasons to believe
the dollar will remain weak, given America&#146;s imbalance of trade with the rest of the
world and the relatively stable outlook for interest rates here, exchange rates can be
volatile. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PowerShares, a unit of
<B>Amvescap</B> (AVZ) , is getting ready to roll out two ETFs based on the Deutsche Bank
U.S. Dollar Index Future Excess Return Index. The PowerShares Deutsche Bank U.S. Dollar
Index Bullish Fund, which will list on the American Stock Exchange under the symbol UUP,
will track the value of the dollar in relation to a basket of six major currencies &#151;
the euro, the yen, the British pound, the Canadian dollar, the Swedish krona and the Swiss
franc &#151; while the PowerShares Deutsche Bank U.S. Dollar Index Bearish Fund, which
will trade under the ticker UDN, will be negatively correlated with the index. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Both the bullish and the bearish
dollar funds will use futures contracts (or short positions in futures contracts) linked
to the six currencies. They will also hold U.S. Treasuries and other high credit-quality,
short-term fixed-income instruments. According to a prospectus filed with the
<B>Securities and Exchange Commission</B>, these bond holdings are expected to generate
interest income of about 5.08% per year. </FONT></P>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The total expense ratio for both
funds will be 0.55%, or 55 cents for every $100 invested. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PowerShares already runs an ETF, the
<B>DB G10 Currency Harvest Fund </B>(DBV) , that tracks a basket of nine currencies, the
euro, yen, Swiss franc, British pound, Norwegian krone, Swedish krona and the Canadian,
Australian and New Zealand dollars. The underlying index is designed to exploit the trend
that currencies associated with relatively high interest rates, on average, tend to rise
in value relative to currencies associated with relatively low interest rates. Launched in
September, the fund has pulled in $195 million of assets to date. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Rydex has been rolling out a number
of ETFs, called CurrencyShares, designed to track movements in single currencies. The
first, and most successful is the <B>CurrencyShares Euro Trust </B>(FXE), which launched
in December 2005 and has about $940 million in assets. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The other six, which launched in
June, include the <B>CurrencyShares British Pound Sterling Trust</B> (FXB),
<B>CurrencyShares Canadian Dollar Trust</B> (FXC), <B>CurrencyShares Australian Dollar
Trust </B>(FXA), <B>CurrencyShares Swiss Franc </B>(FXF), <B>CurrencyShares Swedish
Krona </B>(FXS) and <B>CurrencyShares Mexican Peso Trust</B> (FXM). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Rydex also has a CurrencyShares ETF
in registration that will track the yen. It is expected to launch Feb. 13. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Steve Sachs, director of trading at Rydex,
says currency ETFs offer investors another way to add international exposure with a single
security, as opposed to picking a portfolio of foreign stocks or bonds. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>And because CurrencyShares provide a
basic level of yield, based on a country&#146;s overnight interest rate, they can
sometimes outperform hard assets denominated in foreign currencies, he says. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Also, because exchange-traded funds,
which are baskets of securities that trade throughout the day on an exchange, can be sold
short, they also are good for hedging. Open-end funds can&#146;t be sold short. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;As far as the ETF business
goes, I believe there are still a couple of areas of innovation and growth. Currency is
one, commodities is the other,&#148; says Sachs. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Rydex also has a pair of open-end
funds that follow a riskier strategy of using leverage to amplify the rise or fall of the
dollar. The Dynamic Strengthening Dollar (RYSBX) tracks 200% of the performance of the
U.S. Dollar Index, while the Dynamic Weakening Dollar Fund (RYWBX) tracks 200% of the
inverse performance of the index. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>These funds have relatively high
investment minimums of $25,000 and are probably more appropriate for professional
investors. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Profunds&#146; Rising U.S. Dollar
(RDPIX) and Falling U.S. Dollar (FDPIX) funds also track daily movements in the U.S.
Dollar Index, but don&#146;t employ leverage. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The oldest currency fund is the
Franklin Templeton Hard Currency (ICHHX), an open-end fund that was launched in 1989 and
has $384 million in assets. It invests primarily in high-quality, short-term money market
instruments and forward currency contracts denominated in currencies of foreign countries
and markets that historically have experienced low inflation rates. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Another open-end offering, the $54
million Merk Hard Currency Fund (MERKX), invests in hard currencies from countries with
strong monetary policies in order to protect against the depreciation of the U.S. dollar
relative to other currencies. </FONT></P>


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