Friday, June 22, 2018
The CAD has retraced some of the substantial losses seen this morning, but is still trading near the low on the week. CPI data disappointed immensely coming in well below the 0.4% growth that analysts were looking for at 0.1%. Core Retail Sales was also an abysmal print reporting at -0.1% vs. the expected 0.5%. Crude is up and has settled in the mid-$67 range after OPEC announced a smaller than expected production increase.
The USD has found its footing after conceding slightly through the trading day yesterday. Only second tier releases to report on today were mixed with Flash Manufacturing PMI missing the 56.3 forecast at 54.6. While Flash Services PMI was in line at 56.5.
The EUR is seeing gains on improving PMI’s as well a turn in technical momentum. There still remains considerable movement to see substantial and material gains but overall the tone has changed to a bullish one.
Equities are mostly up this morning: the Dow up 0.45%, the S&P up 0.28%, NASDAQ down 0.39% and the TSX up 0.76%. Crude Oil is up 3.48% this morning ($67.82) while Gold is also up 0.23% ($1,270.15).
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