Monday, June 4, 2018
The CAD is up slightly from last week’s close but overall fairly quiet to open up the trading week. News is quiet out of Canada until Wednesday’s Trade Balance numbers headline the AM news. Crude has settled around the $65 mark capping a significant decline over the past couple of weeks.
The USD is starting the week down against most of the G10 currencies on a morning relatively absent of fundamentals. Second tier Factory Orders were the lone release on the morning coming in below the -0.4% forecast at -0.8%. Trade concerns continue to worry investors after comments emerged from China at this weekend’s G7 meeting.
The EUR has extended the gains seen late last week touching fresh highs into the North American open. Overall sentiment is taking the front seat for investors as concerns over Italy’s new government are continuing to subside. The EUR faces headline risk later this week with speeches from both Draghi and Weidmann tomorrow.
Equities are up across the board this morning: the Dow up 0.76%, the S&P up 0.33%, NASDAQ up 0.27% and the TSX up 0.11%. Crude Oil is down 1.20% this morning ($65.02) while Gold is also down 0.01% ($1,293.31).
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