Loonie Strong as Oil Maintains Prices Above $70 a Barrel

By / May 16, 2018

Wednesday, May 16, 2018 Better than expected manufacturing numbers (1.4% vs 1.1%) and strong oil prices have driven the loonie to gain against most currency pairs today. Better than expected sales in aerospace, transportation, and other metal fabrication contributed to the rise in monthly manufacturing data. Despite the International Energy Agency warning global demand for oil could fall due to high prices, crude is firm around $71 indicating some stability for the CAD. Canadian inflation… Read more

CAD Tumbles on Risk Aversion

By / May 15, 2018

Tuesday, May 15, 2018 The CAD is soft and has tumbled almost a full cent with NAFTA concerns rising. News was absent out of Canada today leaving the Loonie vulnerable to overall sentiment as well as continuing developments with NAFTA negotiations. Tomorrow’s Manufacturing Sales numbers headline the news out of Canada. The USD is strong and gaining ground against all of the G10 currencies into the North American open today. Poor retail sales numbers did… Read more

CAD Trades in Top End of Week’s Range

By / May 11, 2018

Friday, May 11, 2018 The CAD has consolidated just under the highs we have seen this week against the USD. Fundamentals were abysmal but have has less impact on the rate than one would have thought. Employment Change was a massive miss showing a loss of 1.1K jobs compared with the gain of 17.8K jobs that was expected. Unemployment was in line with the 5.8% forecast. The USD is continuing its struggles and is down… Read more

CAD Consolidates Gains as Crude Holds Steady

By / May 10, 2018

Thursday, May 10, 2018 The CAD is continuing to show signs of strength benefiting from crude which is holding steady in the $71 range. Fundamentals were limited to NHPI numbers which were in line with the 0.0% forecast and up from last month’s -0.2%. The USD is down against most of the G10 currencies and struggling after disappointing fundamentals this morning. CPI and Core CPI numbers fell short of their forecasts coming in at 0.2%… Read more

CAD Recovers as Crude Continues to Surge

By / May 9, 2018

Wednesday, May 9, 2018 The CAD has recovered and retraced most of this week’s losses as oil has surged above the $70 mark. News out of Canada was limited to Building Permits which beat the 2.0% forecast coming in at 3.1%. An overall shift in sentiment seems to have taken control of the CAD’s movement with Trump’s exit from the Iran deal yesterday providing a bump in WTI. The USD is softening into the North… Read more

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