FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

FX Blog

Daily Market Updates & FX News

The CAD is down after the Bank of Canada released their quarterly business outlook survey. Although business employment intentions remain strong, uncertainty for the energy industry and slowing housing activity are muting overall economic expectations. Canadian trade balance and inflation data will be released on Wednesday and Canadian retail sales will be on Thursday.

The US dollar is range bound with no meaningful releases to move it. There are several US Federal Reserve members speaking today. The first speaker, Charles Evans, stated inflation was slightly weaker than he would like but, overall data has strengthened recently. US data is relatively quiet this week and analysts will await retail sales numbers Thursday.

Data is light in the Eurozone and is causing little movement in the Euro. Much like for the USA, the important data will be released on Thursday with both French and German manufacturing PMIs.

Equities are down this morning: the Dow down 0.19%, the S&P down 0.15%, NASDAQ down 0.48% and the TSX down 0.04%. Crude Oil is down 0.39% this morning (63.64) while Gold is also down 0.51% ($1,285.60).

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