FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is steady and trading within the range that we saw yesterday after suffering considerable losses early in the day.  Fundamental releases were limited to second tier ADP Non-Farm Employment Change which posted a 73.7K gain compared to last month’s drop of 9.6K jobs.

The USD has consolidated yesterday’s gains and is trading near the top of this week’s gains.  A slew of positive fundamental news releases have helped the greenback hold onto these gains even as markets attempt to regain their footing.  Core Retail Sales and Retail Sales posted impressive beats of 0.6% and 0.4% respectively.  While the Philly Fed Manufacturing Index came in ahead of the 10.1 forecast at 16.8.

The Euro is seeing little gains as slowdown fears throughout the US have started to subside.  German corporate entities have warned of slowing earnings which has bolstered expectations of additional ECB easing.  Further losses in the near term are not expected, however, and sideways trade is more likely.
Equities mostly down this morning: the Dow down 0.09%, the S&P up 0.16%, NASDAQ down 0.32% and the TSX down 0.15%.  Crude Oil is down 1.43% this morning (54.44) while Gold is up 0.14% ($1,518.52).

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