May 31, 2017

    CAD Tumbles as Crude Slides

    By / May 31, 2017

    Wednesday, May 31, 2017 Good morning, The CAD is struggling this morning having fallen over half a cent since the levels we saw yesterday.  News was positive with GDP showing growth of 0.5% compared to the 0.3% analysts were looking for.  Fundamentals are quiet now until Friday’s Trade Balance numbers. The USD is mixed but relatively quiet into the North American open.  Fundamentals were disappointing with Chicago PMI missing the 57.0 forecast coming in at 55.2.  While Pending… Read more

    CAD Retraces Early Losses

    By / May 30, 2017

    Tuesday, May 30, 2017 Good morning, The CAD is trading around levels that we saw at the end of the day yesterday after retracing some fairly significant overnight losses.  Oil has fallen below the $50 mark and now sits in the mid-$49 range.  News was disappointing out of Canada with Current Account missing the -11.4B forecast coming in at -14.1B.  While RMPI data came in well below the 3.8% estimate at 1.6%.  Tomorrow’s GDP is an important release… Read more

    CAD Makes Slight Gains on Quiet Morning

    By / May 29, 2017

    Monday, May 29, 2017 Good morning, The CAD is strong and up slightly from last week’s close.  News is absent out of Canada today leaving any movement to the path of crude and overall sentiment.  Trading is expected to be relatively quiet to begin the week. The USD is quiet but up slightly on comments from San Francisco Fed Williams’ comments regarding future tightening of the economy.  New is non-existent and with the Memorial Day banking holiday little… Read more

    CAD Little Changed on the Day

    By / May 26, 2017

    Friday, May 26, 2017 Good morning, The CAD is relatively flat having consolidated most of its week’s gains.  No news out of Canada leaves the CAD at the mercy of overall market sentiment and the path of crude prices. The USD is little changed this week and trading within the recent range.  News was mixed with Core Durable Goods Orders missing coming in at -0.4% while Prelim GDP was a narrow beat coming in at 1.2% vs. 0.9%…. Read more

    CAD Consolidates Some of Week’s Gains

    By / May 25, 2017

    Thursday, May 25, 2017 Good morning, The CAD is relatively flat having consolidated most of its week’s gains.  Crude initially benefited from news that OPEC will extend production cuts over the next 9 months to reduce the global supply glut, but is now down on the day.  Only second tier news out of Canada showed Corporate Profits falling by 7.4%. The USD has made slight gains retracing part of its losses this week but is still on the… Read more

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