The CAD made solid gains throughout the day yesterday and overnight but has retraced much of these gains and is trading close to the level we opened the week at. No news today to report on will leave the CAD vulnerable to overall market sentiment as well as overall investor position adjustments.
The USD is struggling and feeling overall pressure as markets continue to digest the ongoing trade struggles between the US and China. News impressed today with the Richmond Manufacturing Index coming in at 1 vs. the expected -2, while CB Consumer Confidence was also a healthy beat reporting at 135.1 compared to the expected 129.3.
The Euro is little changed into the North American open as markets continue to weigh the positives of a new Italian government and the negative German GDP release. The slight gains we saw overnight have been limited and longer term trends are leaning towards the bearish side.
Equities are mixed this morning: the Dow down 0.05%, the S&P up 0.14%, NASDAQ down 0.22% and the TSX up 0.34%. Crude Oil is up 0.86% this morning (54.10) while Gold is also up 0.90% ($1,541.13).