November 28, 2014

    Loonie Hemorrhages on OPEC Aftermath, Manufacturing

    By / November 28, 2014

    The Canadian Dollar is poised to retest the six year low against the Greenback as Asian and European trading against the Loonie following the OPEC meeting yesterday has put downward pressure on CAD. These pressures were exacerbated by Canadian Raw Materials Price Index data for October, with this index showing a 4.3% retraction against a growth forecast of 1.5%. The Industrial Product Price Index was similarly deleterious, with a negative 0.5% outcome against predicted growth… Read more

    Loonie Drops as OPEC Announces Production Stability

    By / November 27, 2014

    The Canadian Dollar has been hammered by its U.S. counterpart this morning following the release of the OPEC announcement, which stated that oil production from the cartel will remain steady at 30 million barrels per day. The Loonie had been on a subtle early morning rally following the release of the Current Account Balance for Q3 which came in at -8.4 billion against a forecast of -10.3 billion, representing a high for that data point… Read more

    American Data Falls Short: Greenback Declines Accordingly

    By / November 26, 2014

    The Loonie is on an early rally spurred on by the release of weekly Unemployment Claims from the U.S., with 313,000 new filings against a forecast of 287,000. The unemployment data represents the worst figure since early September, shedding some doubt on American economic recovery. Core Durable Goods Orders from the U.S. for October were also very disappointing, showing a retraction of 0.9% against predicted growth of 0.5%. New Home Sales data from the U.S…. Read more

    U.S. Consumer Confidence Data Confirms Downtrend

    By / November 25, 2014

    Canadian data on the retail side was mixed this morning, with the Core figure for September coming in flat against a forecasted increase of 0.4% and the comprehensive number showing a more optimistic outlook at an increase of 0.8% against predicted growth of 0.6%. American quarterly Preliminary GDP for Q3 painted a decently optimistic picture in the U.S. with growth at 3.9% versus an expectation of 3.3%. The Conference Board Consumer Confidence Index from the… Read more

    Poor Flash Services Data Fails to Curb USD Ascent

    By / November 24, 2014

    The Greenback is showing slow but steady price growth against the Canadian Dollar today in spite of negative Flash Services Purchasing Managers’ Index data from America for October. The index came in at 56.3 against a forecast of 57.3, but the poor numbers have had little effect on USD. With North American bond and equity markets having diminutive impact on the Greenback so far today as well, traders await the release of Core Retail Sales… Read more

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