USD Surges on Fed Chair Comments

By / May 8, 2018

Tuesday, May 8, 2018 The CAD has tumbled this morning in response to a positive tone from Fed Chair Powell overnight. Fundamental news was limited to Housing Starts which disappointed coming in below the 218K forecast at 214K. This week is relatively quiet as far as news goes out of Canada with the next major release coming in Friday’s employment data. The USD is benefiting from positive comments from Fed Chair Powell earlier this morning… Read more

CAD Range Bound as NAFTA Uncertainty Looms Again

By / May 7, 2018

Monday, May 7, 2018 The CAD is trading sideways versus most major currencies to start the week despite oil prices rising to over $70 per barrel. Risks associated with NAFTA discussions are creating uncertainty for investors and analysts, making the future path of the CAD difficult to predict. Senior officials that are closely involved in the process are hinting they would like a resolution in the next couple of weeks. It is a lighter week… Read more

CAD Recovers after Early Morning Losses

By / May 4, 2018

Friday, May 4, 2018 The CAD has recovered to the mid-point of this week’s range after tumbling earlier this morning. Ivey PMI out of Canada was a very impressive beat coming in ahead of the 60.2 forecast at 71.5. This was the best print since April of 2011. The USD cashed in on early gains but has since simmered with most fundamentals coming in at disappointing levels. Average Hourly Earnings as well as Non-Farm Employment… Read more

CAD Tumbles After Posting Poor Trade Balance Numbers

By / May 3, 2018

Thursday, May 3, 2018 The CAD is tumbling and down about half a cent this morning after trading close to the week’s high overnight. Trade Balance was an abysmal print showing a deficit of 4.1B vs. the expected 2.3B. Tomorrow’s Ivey PMI headlines the AM news out of Canada. The USD is solid and trading up against most of the G10 currencies after opening the morning struggling. News was mixed today with a number of… Read more

CAD Rebounds After Poloz Speech

By / May 2, 2018

Wednesday, May 2, 2018 The CAD has rebounded from yesterday’s lows and is now trading very close to where we closed last week. No fundamental releases out of Canada is leaving most investor focus on yesterday’s speech by BoC Governor Poloz. Expectations for a July rate hike have increased and a 25bps rise will likely come in the next meeting. The USD is soft against most of the G10 currencies after the European bank holiday… Read more

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