FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is consolidating its recent decline and trading flat this morning thus far, but many analysts still believe that the Loonie remains fundamentally undervalued.  News is absent today opening the week on a quiet note after yesterday’s bank holiday in Canada.  Fundamentals are limited to second tier releases until Friday’s employment data is released in the AM.

The USD is mixed today against most of the G10 currencies even with positive fundamental releases.  JOLTS Job Openings came in just ahead of the 7.34M forecast at 7.35M.  While IBD/TIPP Economic Optimism was a nice beat reporting at 55.1 vs. the expected 54.6.

The Euro is soft into the North American open today ignoring positive economic data out of Germany.  Factory orders out of Germany surged to the strongest print in almost 2 years at 2.5%.  Overall sentiment is seemingly still in control of flows and any significant moves.

Equities are mostly up this morning: the Dow up 0.02%, the S&P up 0.45%, NASDAQ up 0.35% and the TSX down 1.47%.  Crude Oil is down 0.16% this morning (54.60) while Gold is up 0.58% ($1,472.22).

Olympia Trust Foreign Exchange