Daily Market Update

CAD Retraces Early Losses

Friday, June 23, 2017

The CAD has retraced much of its early losses even in the face of disappointing CPI data this morning.  CPI came is at a dismal 0.1% down from the expected 0.2%.  Crude has consolidated again around the $43 mark to end the week.

The USD is trading down against most of the G10 currencies but is fairly quiet overall.  No first tier news to report on leaving only Flash Services PMI and Flash Manufacturing PMI disappointing coming in below their respective forecasts by 0.9 and 1.0.

The EUR is range bound but any dips have been limited and temporary.  Eurozone PMI was mixed overall but the manufacturing sector was relatively robust out of Germany and France.

Equities are up across the board this morning: the Dow up 0.03%, the S&P up 0.22%, NASDAQ up 0.21% and the TSX up 0.66%.  Crude Oil is up 0.77% this morning (43.07) while Gold is also up 0.49% ($1,256.68).

For great rates and full security on your funds, please contact your nearest Olympia Trust Company Foreign Exchange office so we can assist you with your FX requirements whether it be spot trades, market orders, or forward contracts for risk management.

To sign up and receive our daily market update, please complete the form below.

Fields marked with an * are required