Daily Market Update

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CAD Quietly Trades Sideways

Posted on December 11, 2018
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Tuesday, December 11, 2018   The CAD is steady and trading in line with levels we saw throughout the trading day yesterday.  No news out of Canada is leaving the focus mainly on oil and relative central bank policy with the FOMC announcement next week.  Crude is trading around the $52 level.   The USD is struggling against most of the G10 currencies into the North American open as markets are considerably calmer than yesterday’s
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CAD Tumbles to Open Trading Week

Posted on December 10, 2018
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Monday, December 10, 2018   The CAD is struggling and pushing towards the lower end of last week’s range.  News impressed but has done little to curb this stock market driven USD strength.  Housing Starts showed a healthy beat coming in well ahead of the 198K forecast at 216K, while Building Permits were in line at -0.2%.   The USD is surging again on the back of an equity market decline as well as investor
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Loonie Gains Over a Cent on Jobs Data

Posted on December 7, 2018
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Friday, December 7th, 2018   The Loonie has gained over a full cent this morning after Canada posted an incredible gain of 94,100 jobs in November.  The majority of these jobs were full time and this was the largest gain on record since 1976.  The unemployment rate dropped to 5.6% vs. the 5.8% seen in October.  Data out of the USA was also disappointing further contributing to this sudden run.   To speak with a Foreign Exchange
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CAD Continues to Slide

Posted on December 6, 2018
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Thursday, December 6, 2018   The CAD is extending yesterday’s losses in the wake of the Bank of Canada rate announcement and the dismal outlook for the Canadian economy.  News disappointed today with the Trade Balance showing a big miss coming in at -1.2B vs. the expected -0.7B.  BoC Governor Poloz is speaking throughout the morning and facing questions on the future path of the central bank.   The USD is benefiting from investor risk
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CAD Tumbles on Negative BoC Report

Posted on December 5, 2018
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Wednesday, December 5, 2018   The CAD is collapsing after the Bank of Canada rate announcement and economic report this morning. The central bank held rates steady as expected, but it was the report that sent the Loonie tumbling over a cent. Future rate hikes are in question after Governor Poloz highlighted Canadian energy concerns as well as business investment throughout Canada.   The USD is mixed today with markets closed for the President Bush