CAD Trades Within Recent Range

Monday, September 11, 2017

Good morning,

The CAD is up slightly from the open but trading within the range we have seen over the past week.  Fundamentals were quiet and limited to second tier Housing Start numbers which were a healthy beat coming in at 223K vs. the expected 216K.  News out of Canada is relatively quiet now until Thursday’s NHPI numbers.

The USD is mixed but holding onto a slightly firmer undertone against most of its G10 peers.  No news to report on out of the US until tomorrow’s JOLTS Job Openings in the AM.  Market participants seem more at ease following Irma as well as no new missile tests out of North Korea.

The EUR is showing slight softness after slipping from its recent highs last Friday.  Differing views from ECB policy makers are making it difficult to predict the next policy move from the central bank.

Equities are up across the board this morning: the Dow up 1.03%, the S&P up 0.82%, the NASDAQ up 1.00% and the TSX down 0.33%.  Crude Oil is up 0.42% this morning ($47.68) while Gold is down 0.98% ($1,333.44).

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Written by Blog Admin