FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is struggling slightly but still trading within this week’s range.  Crude prices have improved this week but the correlation between the Loonie and WTI seems to be fairly muted.  News was very limited this morning and in line with second tier NHPI numbers coming out at 0.2%.

The USD is mixed again today but trading in a fairly narrow band into the North American open.  As yesterday news impressed this morning which has helped bolster the greenback.  PPI m/m reported a healthy beat over the 0.3% forecast at 0.4%, while Core PPI m/m was also a beat coming in at 0.3% vs. 0.2%.

The Euro showed some nice gains on the back of better than expected German GDP data but has since struggled to hold onto the gains.  Comments by ECB member Guindo’s stating that the central bank had yet to exhaust its options for stimulus has also weighed on the EUR.

Equities are down across the board this morning: the Dow down 0.08%, the S&P down 0.10%, NASDAQ down 0.21% and the TSX down 0.03%.  Crude Oil is up 0.23% this morning (57.25) while Gold is also up 0.57% ($1,471.40).

Olympia Trust Foreign Exchange