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USD shows gains on all major currencies.
There is almost no data today with the focus being on oil inventories, which are expected to come in at 4.5 million barrels. Currency markets are volatile this morning, with the USD moving towards new multi‐year highs against most currencies. The Euro is especially low against the USD and the CAD is also testing the… Read more
USD up, and equities down on quiet economic data release day.
The economic data releases today are light with nothing coming out of Canada. Out of the US we had the JOLTS job openings coming in as expected at 5 million and Wholesale Inventories below expectations at 0.03. The Canadian dollar is down by almost 0.5% from yesterday, CAD is weak with building downside risk around… Read more
CAD shows moderate gains over the weekend.
Good Morning, Although in familiar ranges, the CAD has opened stronger this morning that where it closed out on Friday, with oil still hovering around the $50 mark. Although it is a light day for economic data, disappointing Canadian housing starts were released coming in at 156K, 20K short of expectations, further supporting a possible… Read more
Loonie Tumbles on Weak Economic Data
A couple huge misses on Canadian data has seen the Loonie tumble over a percent this morning. Building Permits came in at a huge miss of -12.9% against the expectation of -4.2% showing a slowing of future construction activity and overbearing weak economic growth. Trade Balance was also reported much smaller than expected at -2.5B… Read more
EUR Falls to 11-year Lows
CAD is down a little bit this morning but still hanging onto some of yesterday’s gains. News is light with only Ivey PMI being released a narrow beat at 49.7 against a 49.4 forecast. As expected yesterday rates were held steady, however the statement was more neutral than expected which drove the CAD rally. Focus… Read more