July 31, 2015

    Contraction in Canada for Third Straight Month

    By / July 31, 2015

    CAD has surged early this morning climbing over a percent since its overnight lows even on the back of negative GDP data. GDP numbers out of Canada came out at -0.2% confirming a technical recession when the expectation was 0.0% growth. Measures of CAD sentiment have remained fairly stable over the past week with hinting towards a desire for protection against CAD weakness. Other than the one release the CAD is fairly quiet leading into… Read more

    CAD Falls Retracing Yesterday’s Gains

    By / July 30, 2015

    CAD is weak retracing much of yesterday’s gains on positive news out of the US and a positive tone from the Fed yesterday. CAD climbed nearly 1% from its multi-year lows with signs of stabilization coming from a surge of 5% in oil prices. Tomorrow’s GDP numbers are extremely important to the continued stabilization of the CAD and to halt its recent slide. Encouraging data out of the US today has seen the USD climb… Read more

    CAD Climbs on Strong Crude

    By / July 29, 2015

    CAD has climbed this morning up almost 0.5% on strong crude oil prices as well as negative news out of the US. No news out of Canada this morning leaves considerable risk from Fed comments out of the US later this morning. Crude Oil Inventories were a surprising decrease of 4.2M vs. the expected decrease of 0.1M. Crude prices reacted immediately climbing back into the mid $48 range. Friday’s GDP numbers will be the major… Read more

    USD Soft on Weak Consumer Data

    By / July 28, 2015

    CAD has had a slight rally this morning up modestly from yesterday’s close on negative economic data out of the US. Domestically RMPI numbers were a miss coming out at 0.0% against the expected 1.1% showing no price increase in raw materials, generally pointing to a halt in inflation. Domestic releases for the rest of the week are unlikely to influence the CAD other than the all-important GDP numbers being released on Friday. The USD… Read more

    Quiet News Day Sees Slight CAD Gains

    By / July 27, 2015

    CAD is up slightly from Friday’s close but fragile with a lack of domestic data, and a continuing slide in crude prices. Oil has now settled into the mid $47 range and looks to push lower with a lack of any supporting news or data. Other than tomorrow’s RMPI numbers, Friday’s GDP will be the only significant release out of Canada and will be extremely important if the CAD is to break out of its… Read more

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