CAD Quiet to Open Week

Monday, September 10, 2018

 

The CAD has faded much of the gains made last week after comment from Wilkins and is now trading close to the mid-point of its one week range. No news to report on today opens up a relatively quiet week with regards to fundamentals. The next major release out of Canada comes in Thursday’s NHPI data.

 
The USD is mixed again in overall light trade to open the North American trading week. News was absent out of the US as well with the lone release coming in second tier Consumer Credit later on this afternoon. Ongoing trade and tariff developments remain the focus for most analysts.

 
The EUR is steady as concerns with Italy have eased and ahead of Thursday’s ECB meeting. It is expected that ECB policy will remain on hold, but a confirmation of asset purchases reduction for next month may see the EUR make some gains.

 
Equities are up across the board this morning: the Dow up 0.14%, the S&P up 0.37%, NASDAQ up 0.16% and the TSX up 0.14%. Crude Oil is up 0.47% this morning ($68.07) while Gold is also up 0.03% ($1,197.32).

 

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