Monday, November 19, 2018
The CAD is down on the morning but has recovered slightly after an initial large drop. News was absent on the morning and opens a relatively quiet week limited to second tier releases until Fridays CPI numbers. Crude continues to struggle and is trading in the lower $56 range.
The USD continues to hold onto a soft undertone as chances for a further rate hike in December continue to fade. News was limited to second tier NAHB Housing Market Index which missed the expected 67 coming in at 60. The next big release out of the US comes in Wednesday’s Core Durable Goods Orders.
The EUR is pushing to near term fresh highs as overall tone continues to improve. Growth outlook for the Eurozone has improved and has suggested that the German economy is expecting fairly strong growth.
Equities are down across the board this morning: the Dow down 1.00%, the S&P down 0.85%, NASDAQ down 1.79% and the TSX down 0.01%. Crude Oil is up 1.24% this morning ($57.16) while Gold is also up 0.63% ($1,221.02).
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