FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is range bound and trading at the levels that we saw throughout the trading day yesterday. News was again quiet out of Canada leaving overall movement to ongoing trading tensions and overall market sentiment. Tomorrow’s inflation data should provide the basis for some movement of the Loonie.

The USD is mixed again vs. most of the G10 currencies into the North American open today. Fundamentals were limited to second tier releases as well as a speech from FOMC member George. The NFIB Small Business Index reported just ahead of the 102.3 forecast at 103.5, while Import Prices fell below the 0.7% rise that was expected posting at 0.2%.

The Euro is finding support at current levels in overall quiet trade. Unfortunately for the EUR, the lack of further movement upwards is pointing to possible weakness in the near term. Overall risk aversion from investors continues to prop the USD up against the EUR.

Equities are up across the board this morning: the Dow up 0.79%, the S&P up 0.89%, NASDAQ up 0.98% and the TSX up 0.34%. Crude Oil is up 1.29% this morning (61.83) while Gold is down 0.28% ($1,296.31).

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