FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD benefited slightly this morning from positive GDP numbers but has yet to see a catalyst to break it out of the range we have seen the past couple of weeks.  GDP numbers out of Canada impressed coming in ahead of the 0.1% forecast at 0.2%.  RMPI was a slight miss reporting at 1.2% vs. the expected 1.6%.  The chance of a rate move next Wednesday is all but off the table with the recent string of positive fundamentals.

The USD is relatively quiet as markets continue to digest Trumps trade tweets and the ongoing battle with China.  News was mixed state side with Personal Spending up 0.6% vs. the expected 0.5% but Personal Income missing the 0.3% forecast at 0.1%.  Core PCE Price Index was a slight miss at 0.2% and Chicago PMI was up to 50.4 against the forecast 48.1.

The Euro is continuing to struggle and is trading near the bottom of the range we have seen over the past week.  Eurozone fundamentals were mixed and further losses are possible in the near term.  CPI Flash Estimate for the year came out in line at 1.0%.

Equities are up across the board this morning: the Dow up 0.35%, the S&P up 0.34%, NASDAQ up 0.05% and the TSX up 0.15%.  Crude Oil is down 2.47% this morning (55.31) while Gold is up 0.11% ($1,529.24).

Olympia Trust Foreign Exchange