FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is showing signs of vulnerability after yesterday’s sharp losses.  Inflation numbers this morning did show a beat on expectations but still a contraction at -0.2%.  Manufacturing Sales numbers were in line with the 1.6% forecast, while, the Core CPI was flat at 0.0%.  Friday’s core retail sales data is the next important release out of Canada.

The USD is mixed and opening the North American session with relatively quiet trade.  News out of the US was limited and mixed today.  Building Permits posted a slight miss coming in at 1.22M vs. the expected 1.30M.  While Housing Starts reported in line at 1.25M.  Crude Oil Inventories recorded a draw of 3.1M barrels compared to the forecast draw of 3.6M.

The Euro has steadied and consolidated just above the levels that we saw at yesterday’s open.  Eurozone CPI numbers came in just ahead of the 1.2% forecast at 1.3% helping boost the EUR.  Data, however, is unlikely to sway the ECB’s current plan for further accommodation over the next number of months.
Equities are down across the board this morning: the Dow down 0.21%, the S&P down 0.28%, NASDAQ down 0.15% and the TSX down 0.09%.  Crude Oil is down 0.85% this morning (57.13) while Gold is up 1.18% ($1,422.84).

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