FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is trading within the range that we saw yesterday with little as far as a catalyst to break it out of its recent band.  No fundamental releases are scheduled for today leaving overall sentiment and investor flows as any chance of movement.  Tomorrow we have Employment Change numbers as well as the Unemployment Rate released in the AM.

The USD is easing off against most of the G10 currencies this morning on reports of both the US and China agreeing to tariff roll-backs.  Today’s news was like and largely in line with expectations.  Unemployment Claims came in just below the 215K forecast at 211K.  The 30-year bond auction is ongoing after 12PM today.

The Euro is up slightly despite soft German Industrial Production data largely based on overall broad USD weakness.  Yesterday saw the EUR fall to its short-term support level and subsequently rebounding to its recent high.  Should we see the EUR push through its closest resistance level, we could see some further gains in the near term.
Equities are up across the board this morning: the Dow up 0.96%, the S&P up 0.53%, NASDAQ up 0.79% and the TSX up 0.40%.  Crude Oil is up 1.22% this morning (57.04) while Gold is down 1.30% ($1,471.26).

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