The CAD is weak and has tumbled as global economic growth concerns have continued to dominate flows and movement. A slight recovery in oil prices has done little to offset the headwind of expected relative central bank policy. Again no important releases are scheduled out of Canada until next week inflation and retail sales numbers.
The USD is strong and benefiting from yet another stock market sell-off this morning. Treasury markets have sent a recession warning with yields tumbling pointing to a serious slowdown. Fundamentals were limited to second tier Import Prices which reported a slight beat coming in at 0.2% vs. the expected 0.0%.
The Euro is continuing to trade sideways and consolidating at its recent levels. German Q2 GDP numbers came out slightly better than was first feared and inflation numbers out of France were in line with analyst expectations.
Equities are down across the board this morning: the Dow down 1.84%, the S&P down 1.66%, NASDAQ down 2.10% and the TSX down 1.12%. Crude Oil is down 3.31% this morning (55.21) while Gold is up 0.83% ($1,513.97).