Daily Market Update

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CAD Breaches Fresh Low on Negative Inflation

Posted on October 19, 2018
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Friday, October 19, 2018   The CAD is struggling into the open today with news disappointing across the board. The all-important CPI data was released this morning and showed a print of -0.4% vs. the expected 0.1%. This contracting inflation is worrying ahead of next week’s Bank of Canada rate announcement where Poloz is expected to again raise rates, which could put even more downward pressure on the number. Core Retail Sales also showed a
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CAD Continues to Struggle

Posted on October 18, 2018
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Thursday, October 18, 2018   The CAD has continued to extend its losses into the North American open today as oil prices have hit fresh recent lows. News was light and limited to second tier ADP Non-Farm Employment Change which was down from last month’s 42.7K to 28.8K. Tomorrow is extremely important with both retail sales numbers as well as inflation data being released in the AM.   The USD is mixed against the G10
Canada Oil

CAD Softens as Crude Declines

Posted on October 17, 2018
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Wednesday, October 17, 2018   The CAD soft thus far this morning and fading much of the gains seen throughout the day yesterday. Manufacturing Sales numbers impressed today coming in just above the -0.6% forecast at -0.4%. The CAD seems vulnerable to a further slide as many investors seem risk averse to the decline in oil prices.   The USD has strengthened broadly into the North American open mostly due to risk aversion out of
Canadian Dollar

CAD Extends Gains

Posted on October 16, 2018
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Tuesday, October 16, 2018   The CAD has continued to make nice gains into the open today after yesterday’s BoC business outlook survey. News was disappointing as Foreign Securities Purchases came in far below the 10.05B at 2.82B. Tomorrow’s Manufacturing Sales numbers headline the AM news.   The USD is soft against most of the G10 currencies with momentum pushing towards a full retracement of last week’s rally. News was limited to second tier releases
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CAD Makes Solid Gains to Open Week

Posted on October 15, 2018
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Monday, October 15, 2018   The CAD is making impressive gains after starting the morning down from last week’s close, now up almost half a percent. News this morning consisted of the BoC Business Outlook Survey which emphasized that near-term business outlooks continued to be robust and longer term growth looks well supported.   The USD is mixed against most of the G10 currencies but overall trading with a soft undertone. News was poor overall