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Loonie suffers on interest rate outlook. US GDP and quarterly earnings reports in focus. US dollar trades modestly lower but not against CAD USDCAD: open 1.3915, overnight range 1.3902-1.3925, close 1.3915, WTI $67.59, Gold, $2784.56 The Canadian dollar was the laggard yesterday and in overnight trading. The US dollar drifted lower against the G-10 […]
BoC Governor testifies to Parliament today. Focus is on US election, not data. US dollar opens defensively as it consolidates recent gains. USDCAD: open 1.3880, overnight range 1.3876-1.3901, close 1.3889, WTI $67.95, Gold, $2752.49 The Canadian dollar drifted sideways in an uneventful overnight session as FX traders adopt a wait and see approach to […]
CAD/US 10-year yield spreads widen in favour of US Sinking oil prices weighing on Loonie. USDCAD: open 1.3895, overnight range 1.3886-1.3907, close 1.3894, WTI $67.16, Gold, $2729.16 The Canadian dollar came under renewed pressure overnight stemming from geopolitical issues. Oil traders reacted and sold WTI, driving the price down 6.6%. The oil price drop […]
US NFP expected at 142,000 (previous 140,000) Oil rises with geopolitical tensions, US dollar traded quietly overnight ahead of today’s US employment numbers. USDCAD: open 1.3557, overnight range 1.3544-1.3568, close 1.3556, WTI $74.45, Gold, $2657.47 The Canadian dollar is under pressure and is testing key support levels despite a surge in WTI oil prices. USDCAD […]
Loonie lagging commodity currency bloc gains. Fed Powell pushes back against 50 bp rate cut speculation. US dollar rebounds against majors except against antipodeans. USDCAD: open 1.3533, overnight range 1.3490-1.3540, close 1.3526, WTI $67.11, Gold, $2649.02 The Canadian dollar is sluggish. The Loonie could not get any upward traction after August GDP rose a smidgen […]
China rate cut improves risk sentiment. Eurozone and UK PMI data is disappointing. US dollar trading lower vs commodity currency bloc but higher against Europe. USDCAD: open 1.3562, overnight range 1.3549-1.3583, close 1.3576 , WTI $71.12, Gold, $2621.19 The Canadian dollar drifted higher overnight and is attempting to break through resistance to extend gains. The […]
FX markets churn post-FOMC decision. Bank of England stays the course-leaves rates unchanged US dollar trading with a small bid after overnight price swings. USDCAD: 1.3538, overnight range 1.3533-1.3648, close 1.3605, WTI $70.79, Gold, $2591.94 The Canadian dollar was whip-sawed following the FOMC decision to slash US interest rates by 50 bps, and the volatility […]
Canada CPI hits BoC target Markets on hold until FOMC meeting results at 2:00 pm US dollar opens little changed from close but lower from yesterday. USDCAD: open 1.3586, overnight range 1.3582-1.3598, close 1.3598, WTI $68.01, Gold, $2572.31 The Canadian dollar is idling ahead of the key FOMC meeting this afternoon. The meeting is being […]
ECB rate cut to be followed by cautious guidance. US data includes weekly jobless claims and August PPI US dollar trading sideways despite improved risk sentiment. USDCAD: open 1.3571, overnight range 1.3564-1.3586, close 1.3578, WTI $68.64, Gold, $2519.09 The Canadian dollar dropped yesterday after the US inflation report suggested that the Fed would not cut […]
US CPI data overshadows debate. USDJPY gives back all of its 2024 gains. US dollar retreats modestly, post-debate. USDCAD: open 1.3588, overnight range 1.3556-1.3579, close 1.3610, WTI $67.41, Gold, $2523.25 The Canadian dollar is the yoyo, and the greenback is the yoyoer. Prevailing US dollar sentiment on any given day determines what tricks the yoyoer […]
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