February 27, 2015

    Currencies trade in ranges as focus remains on next week’s data

    By / February 27, 2015

    No data out of Canada this morning leaves CAD vulnerable to US data and Fed speakers later on today. CAD has shown some volatility this morning but is trading right around its open price and up 0.3% from yesterday’s close. All eyes are on next week’s interest rate announcement, however with recent news and a stabilization of oil prices chances of a further interest rate cut by the Bank of Canada have all but evaporated…. Read more

    USD Shows Strength on Positive CPI and Sentiment

    By / February 26, 2015

    Data out of Canada proved positive this morning with both CPI and Core CPI numbers coming out as beats over expectation. Core CPI came out at 0.2% against the forecast 0.1% and CPI was -0.2% vs. the expectation of -0.4%. These increasing inflation numbers further decrease the chance of another rate cut next week. This bolstered some temporary CAD strength this morning but has since completely retraced and now sits about a cent lower than… Read more

    Central Banks in “Wait-and-See” State

    By / February 25, 2015

    Again no news out of Canada this morning but the CAD is strong this morning on the back of Gov. Poloz’s statements yesterday. He warned that the Bank of Canada is currently in a reactionary mode based on what happens with the Fed and oil prices over the coming weeks, this makes a March interest cut more unlikely. CAD has rallied almost 2% since yesterday’s lows on reaction from Bank of Canada statements and stabilization… Read more

    A volatile morning seen as US Fed testifies

    By / February 24, 2015

    No new data out of Canada this morning has all eyes on Governor Poloz’s comments coming up at 12:00 today. CAD showed some weakness this morning but has since retraced all of this morning’s losses plus more and is sitting just above yesterday’s open. We should see continued volatility this morning with Yellen’s testimony along with Poloz’s upcoming comments. Data is also modest out of the US this morning with CB Consumer confidence being the… Read more

    Loonie loses ground on negative sentiment and falling crude prices

    By / February 23, 2015

    The loonie has fallen over 0.5% since Friday’s close and now looks vulnerable to fall even further with weakening fundamentals and fears of further decreasing interest rates on the March 4th decision. No new economic data has been released out of Canada this morning and focus remains on oil prices, policy decisions coming out next week and Governor Poloz speaking tomorrow. Existing home sales stands alone as the sole data point released out of the… Read more

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