Thursday, August 9, 2018
The CAD is consolidating around the mid-point of this week’s trading range after some significant swings through the past couple of days. News was limited but supportive with NHPI data showing a narrow beat over its 0.0% forecast at 0.1%. Tomorrow’s employment data headlines the AM news out of Canada.
The USD trading in a narrow range against most of the G10 currencies in what seems to be light summer trade. News was mixed out of the US and has done little as far as movement goes. Core PPI disappointed coming in at 0.1% vs. the expected 0.2%. PPI was also a narrow miss reporting at 0.0% against the forecast 0.2%. Unemployment Claims were the lone beat on the day coming in below the 220K forecast at 213K.
The EUR is quiet and trading just above the bottom end of May’s range. A bulletin from the ECB stated that the Eurozone economy was moving along nicely but may face headwinds of protectionism from some regions. Interest rate normalization should proceed as planned as long as inflation is driven towards the outlined target.
Equities are mostly up this morning: the Dow down 0.02%, the S&P up 0.11%, NASDAQ up 0.26% and the TSX up 0.67%. Crude Oil is up 0.13% this morning ($67.03) while Gold is also up 0.03% ($1,214.24).
To speak with a Foreign Exchange Specialist, or to get a free, no obligation quote on your foreign currency needs call 1.866.752.7135.
To sign up to receive Daily Market Updates or a quote, fill out the form below and a Foreign Exchange Specialist servicing your region will contact you within the business hour.