CAD Struggles into North American Open

Tuesday, September 12, 2017

Good morning,

The CAD is struggling slightly down almost half a cent since the highs seen overnight.  Fundamental releases were absent this morning leaving the CAD relying on the overall sentiment of investors as well as the path of crude.  News out of Canada is quiet until Thursday morning.

The USD is firmer this morning but still remains mixed and struggling to hold onto any significant gains.  News today was limited to JOLTS Job Openings which were a healthy beat coming in at 6.17M vs. the expected 5.96M.   The EUR is trading down slightly but losses have been relatively limited and unconvincing.  We are seeing some softness since the EUR’s rally stalled last week.  Fundamentals were mostly positive which is limiting the losses we have seen this week thus far.

Equities are up across the board this morning: the Dow up 0.21%, the S&P up 0.11%, the NASDAQ up 0.04% and the TSX down 0.36%.  Crude Oil is up 0.27% this morning ($48.20) while Gold is flat ($1,327.51).

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