The CAD has made gains and is trading close to the midpoint of this week’s range on a morning absent of fundamental releases. Monday brings the highly anticipated Bank of Canada Business Outlook Survey and should give some insight into the overall health of the Canadian economy.
The USD is soft against all of the G10 except the JPY into the North American open. Trade has been relatively quiet thus far and the Greenback is poised for its first weekly loss in over a month. News today disappointed with the Prelim UoM Consumer Sentiment coming in well below the 98.1 forecast at 96.9.
The Euro has made solid gains on the back of overall sentiment as well as industrial production figures from the Eurozone. Current pricing is presenting investors with a “bargain” price as most analysts think that it is undervalued at current levels.
Equities are up across the board this morning: the Dow up 0.72%, the S&P up 0.41%, NASDAQ up 0.21% and the TSX up 0.27%. Crude Oil is up 0.94% this morning (64.18) while Gold is also up 0.03% ($1,292.94).