The CAD is opening the morning consolidating just below the highs that we saw to close out last week. No fundamentals to report on today opens up a relatively quiet week as far as news releases are concerned. Relative central bank policy is dominating flows with market participants continuing to fade any sort of expectation for easing from the Bank of Canada.
The USD is retaining the soft undertone that we saw at the culmination of the trading week last week. Markets are continuing to bet that Fed easing will come at the rate announcement at the end of this month. News was limited to the Empire State Manufacturing Index which posted a healthy beat coming in at 4.3 vs. 1.6.
The Euro is continuing to trade in its recent range after positive fundamental data last week failed to push it through its current resistance level. Investors continue to speculate that the ECB will provide the Eurozone with further accommodation over the coming months.
Equities are mixed this morning: the Dow down 0.09%, the S&P up 0.02%, NASDAQ down 0.06% and the TSX up 0.12%. Crude Oil is up 0.23% this morning (60.35) while Gold is down 0.47% ($1,409.06).