Daily Market Update

Finances

CAD Down Slightly Ahead of Friday’s Inflation Data

Posted on August 16, 2018
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Thursday, August 16, 2018   The CAD is weak against major currencies for a second day as markets digest recent oil weakness and ongoing trade issues. Monthly manufacturing sales growth was in line with expectations at 1.1% versus 1.0% with growth primarily driven by the oil and coal industries. Expectations of a Bank of Canada rate hike before the end of the year are firming and tomorrow’s inflation data will be a measure of how
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CAD Tumbles and Retraces Week’s Strength

Posted on August 15, 2018
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Wednesday, August 15, 2018   The CAD is soft and has fallen almost a full cent since its highs yesterday afternoon on positive US data. News was again absent domestically leaving overall risk appetite and sentiment at the forefront of any momentum. Tomorrow provides fundamentals out of Canada which may provide some basis for movement.   The USD is outperforming most of its G10 peers with many investors seeking refuge from high risk environments. Fundamentals
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CAD Recovers to Make Solid Gains

Posted on August 14, 2018
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Tuesday, August 14, 2018 The CAD is making solid gains and outperforming most of the G10 currencies with risk appetite from investors seeming to improve. Again sentiment is the main driver of any movement with no releases out of Canada this morning. The next domestic fundamental release comes in Thursday’s Manufacturing Sales numbers.   The USD is mixed against its main peers with some losses coming in the wake of a strong TRY (Turkish Lira)
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CAD Flat as Turkish Risk Grows

Posted on August 13, 2018
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Monday, August 13, 2018   The CAD is trading flat to start the week. Geopolitical risk remains a key driver as there are no domestic economic releases scheduled until Thursday. Markets will be waiting for headlines on NAFTA with recent news showing progress between the USA and Mexico but not Canada.   The USD is consolidating in range after Friday’s gains. Growing risk associated with the Turkish banking system is firming safe currencies such as
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CAD Soft to End Trading Week

Posted on August 10, 2018
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Friday, August 10, 2018   The CAD is soft today even with what looked like impressive fundamental data releases. The Unemployment Rate fell to 5.8% compared with the expected 5.9%. Employment Change was a massive beat coming in at 54.1K vs. the expected 17.0K. This however was mostly due to an increase in part time work offsetting a fall in full time jobs. Much of these were also in the public sector.   The USD