CAD Trades near Bottom of Week’s Range

By / May 24, 2018

Thursday, May 24, 2018 The CAD is soft and down from the levels we saw throughout the trading day yesterday. News out of Canada was limited to Corporate Profits which were up to 2.7%, far out pacing last quarter’s -1.9% print. A day absent of news tomorrow closes out the trading week. The USD is quiet but down against many of the G10 currencies after the FOMC meeting minutes yesterday. News disappointed as Unemployment Claims… Read more

CAD Tumbles on Sentiment and Risk Aversion

By / May 23, 2018

Wednesday, May 23, 2018 The CAD has had a bit of a whirlwind morning starting just below where we closed last week before making slight gains which have now retraced. No news to report on out of Canada this morning is leaving any movement due to overall sentiment and flows as well as crude pricing. The USD is strong and has made gains against most of the G10 currencies with risk aversion the main driver…. Read more

CAD Surges on Crude and Sentiment

By / May 22, 2018

Tuesday, May 22, 2018 The CAD is quiet and trading in the upper end of its month range after a surge of over a percent yesterday.  Monday was a banking holiday in Canada and Europe, but a surge in crude prices helped the CAD to the levels seen this morning.  Fundamentals were limited to second tier Wholesale Sales numbers which were a nice beat of 0.3%. The USD is struggling and fading many of the gains… Read more

Loonie Falls as Canadian and US NAFTA Outlooks Diverge

By / May 18, 2018

Friday, May 18, 2018 Despite a solid retail sales release of 0.6% versus the expectation of 0.3% the loonie is down across the board. Uncertainties surrounding NAFTA discussions continue to weigh on the currency as the latest headlines suggest a material diverging outlook. Canadian Prime Minister Trudeau claimed the parties are close to a deal while U.S. Trade Czar Lighthizer reported the opposite. Canadian inflation data (CPI) was a non-event coming in at expectation of… Read more

CAD Trades Within Range

By / May 17, 2018

Thursday, May 17, 2018 The CAD is quiet and trading well within the range we have seen the past couple of sessions even as crude hit its highest price since 2014. Foreign Securities Purchases surged to 6.15B vs. the expected 3.00B while ADP Non-Farm Employment Change fell from last month’s 59.3K to 30.2K. The USD is firm but any meaningful gains have been limited in duration and scope thus far. News was mixed out of… Read more

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