The CAD has fallen slightly today but is trading well within this week’s range thus far. News disappointed with Trade Balance numbers coming in lower than the -0.6B that was expected at -1.0B. Relatively flat trade is expected with little scheduled this week to break the Loonie out its current range.
The USD is slightly firmer on the day but is little change overall so far this week. Numbers this morning were mixed with poor Final Services PMI (50.6 vs. 51.0) being offset by in line Trade Balance numbers (-52.5B). The lone positive on the morning was the ISM Non-Manufacturing PMI which came in ahead of the 53.5 forecast at 54.7.
The Euro is sliding today and being dragged downwards by soft fundamental data. Positive trade developments did little to boost the EUR as it traded flat in overnight trade. Weak unemployment numbers out of Spain added to the EUR’s recent woes.
Equities are mixed this morning: the Dow up 0.01%, the S&P down 0.10%, NASDAQ down 0.11% and the TSX up 0.08%. Crude Oil is up 1.26% this morning (57.25) while Gold is down 1.45% ($1,487.95).