FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

Wednesday, November 21, 2018

 

The CAD is underperforming overall but is up slightly from the lows that we saw mid trading day yesterday. Again news was very limited with only second tier Wholesale Sales numbers coming out a slight miss at -0.5% vs. the expected 0.1%. Fundamentals are limited until Friday’s CPI numbers and movement tomorrow is expected to be muted with the US bank holiday.

 
The USD is weak and down against all of the G10 currencies to open the North American session. Fundamentals disappointed today with both Core Durable Goods Orders and Durable Goods Orders missing their respective marks by 0.3% and 2.2%. Revised UoM Consumer Sentiment also disappointed coming in below the 98.4 forecast at 97.5.

 

The EUR is up almost a half a percent against the USD and is performing well against most of the G10 currencies. Fundamentals are limited with overall sentiment taking the forefront of any movement today. Relative central bank policy seems to be giving the EUR some support with the chance of tightening out of the US fading in the near term.
 
Equities are up across the board this morning: the Dow up 0.40%, the S&P up 0.73%, NASDAQ up 1.17% and the TSX up 1.62%. Crude Oil is up 1.01% this morning ($54.44) while Gold is also up 0.54% ($1,228.24).

To speak with a Foreign Exchange Specialist, or to get a free, no obligation quote on your foreign currency needs call 1.866.752.7135.

To sign up to receive Daily Market Updates or a quote, fill out the form below and a Foreign Exchange Specialist servicing your region will contact you within the business hour. Fields marked with an * are required.
Olympia Trust Foreign Exchange