The CAD has dropped back to the level that we opened the week at and well within the trading range we have seen over the past couple of weeks. Nothing fundamentally to report on until Friday’s GDP numbers are released in the AM. Crude has made some convincing gains after posting a massive draw of 10.0M barrels, well above the expected 2.8M barrel draw.
The USD is trading sideways and it quiet as far as trade goes with little expected to change dramatically throughout the trading day. Tomorrow’s Prelim GDP numbers will be important as market participants continue to weigh the possible future path of the FOMC as well as any chance of accommodation.
The Euro is steady with the improving political situation out of Italy and the current Prime Minister staying in power. The current technical condition for the EUR remains unchanged and in the longer run we could see it make a slight bullish run.
Equities are up across the board this morning: the Dow up 0.49%, the S&P up 0.20%, NASDAQ up 0.11% and the TSX up 0.17%. Crude Oil is up 2.48% this morning (56.29) while Gold is down 0.38% ($1,537.00).