FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD continued to gain overnight but has since retraced some of the Bank of Canada driven gains.  News was light this morning and limited to a speech from Gov Council member Schembri which is unlikely to cause any substantial movement.  Employment data tomorrow headlines the AM news out of Canada.

The USD started the morning extending yesterday’s losses but has since found its footing on the back of some positive fundamental releases.  ADP Non-Farm Employment Change posted a significant beat coming in well ahead of the 148K forecast at 195K.  While the ISM Non-Manufacturing PMI was also positive posting at 56.4 vs. 54.0.

The Euro made slight gains through the trading day yesterday as well as overnight into the North American open after yesterday’s positive UK parliamentary developments.  Worse than expected factory orders out of Germany were largely ignored with most focus remaining on the pending Brexit deal in the UK.

Equities are up across the board this morning: the Dow up 1.66%, the S&P up 1.47%, NASDAQ up 1.72% and the TSX up 0.90%.  Crude Oil is up 1.46% this morning (57.08) while Gold is down 2.50% ($1,513.69).

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