FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD has consolidated yesterday’s significant gain and is now trading where we opened the week and up over a full cent since the lows we saw on Wednesday.  News was heavily disappointing but has not curbed the strength into the end of the week.  Employment Change showed a decrease of 24.2K jobs compared with the expected gain of 15.2K jobs.  The Unemployment Rate also reported higher than its 5.5% forecast at 5.7%.

The USD is mixed but struggling overall after comments from Trump hinting that a deal with China was not overly close this morning weighed on the greenback.  News was also negative overall with PPI numbers coming out in line at 0.2%, while Core PPI fell short at -0.1% vs. the expected 0.2%.
The Euro is solid and trading sideways even with economic turmoil throughout Italy and soft German trade data.  French Industrial Production also fell short coming in well below the 2.1% forecast at -2.3%.  The GBP has also tumbled to the lowest level that we have seen in well over a year on a flat 0.0% GDP report.

Equities are down across the board this morning: the Dow down 0.64%, the S&P down 0.89%, NASDAQ down 0.97% and the TSX down 0.39%.  Crude Oil is up 3.29% this morning (54.27) while Gold is also up 0.06% ($1,501.80).

Olympia Trust Foreign Exchange