Tag Archive: $CAD

FX Daily, October 27: Rising Yields Continue to be the Main Driver

2016-10-27

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2016-10-27

FX Performance, October 27 2016 Movers and Shakers
The euro remains pinned near the seven-month low it recorded two days ago near $1.0850. It approached $1.0950 yesterday and has been confined to about a 15-tick range on either side of $1.0905 today. Against the yen, the dollar remains near the three-month high (~JPY104.85) also seen two days ago. New dollar buying emerged yesterday near JPY104.

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FX Daily, October 25: Germany IFO, Dollar Going Nowhere

2016-10-25

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2016-10-25

FX Performance, October 25 2016 Movers and Shakers
The US dollar has been confined to extremely narrow ranges against the euro, yen, and sterling. To the extent that there is much action in the foreign exchange market, it is with the dollar-bloc and emerging market currencies.The Canadian dollar was whipsawed by comments from the Bank of Canada.

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FX Daily, October 24: Dollar Begins Mostly Slightly Lower, and Risk is On to Start the Week

2016-10-24

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2016-10-24

FX Performance, October 24 2016 Movers and Shakers
Sterling vs the Swiss Franc has remained close to its lowest level in history caused by the aftermath of the Brexit vote back in June and more recently the announcement that Article 50 will be triggered by March 2017. Confidence in Sterling exchange rates has plummeted recently and until we get some form of assurances as to how the talks may go with the European Union we could see Sterling fall even further against the Swiss Franc than its current...

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FX Weekly Preview: Forces of Movement in the Week Ahead

2016-10-24

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2016-10-24

opticalillusion
Fitch cut Italy's rating outlook to negative from stable, while DBRS left Portugal's rating and outlook unchanged. Europe and Canada's free trade negotiations broke down, but many seem to be making exaggerating the significance of the drama. Japan and Australia report inflation figures, and both are exceptions to the generalization that price pressures are rising in (most) high income countries.

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FX Daily, October 21: Greenback Ending Week on Firm Note

2016-10-21

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2016-10-21

FX Performance, October 21 2016 Movers and Shakers
The US dollar is firm especially against the European complex and emerging market currencies. The yen continues to be resilient, and exporters are thought be capping the dollar above JPY104. The dollar is lower against the yen for the fourth consecutive session and set to snap a three-week advancing streak.

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FX Daily, October 19: FX After China GDP

2016-10-19

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2016-10-19

FX Performance, October 19 2016 Movers and Shakers
The Swiss Franc has strengthened against the pound as global uncertainty persists in the form of the UK’s Brexit vote and the US Presidential Election. Looking ahead it seems the CHF may soften a little as we learn of the new President, I found it very interesting that yesterday Paddy Power paid out on any bets for Hilary Clinton to become President in the United States.

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FX Daily, October 18: Dollar Slips Broadly but not Deeply

2016-10-18

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2016-10-18

FX Performance, October 18 2016 Movers and Shakers
According to Bank of England deputy governor Ben Broadbent the drop in the value of Sterling has helped to stop the UK economy from falling further since the shock of the Brexit vote. He went on to say ‘in the shape of the referendum, we’ve had exactly one of those shocks’ and added that the Bank of England would not interfere with monetary policy to boost the Pound’s value.

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Is Oil about to Rollover?

2016-10-18

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2016-10-18

Oil has rallied 20% since mid-September. Market may be getting ahead of itself. US rig count has risen by more than 100 in less than 4-months and inventories, seasonally adjusted are at record highs.

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A Few Thoughts on Canada

2016-10-17

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2016-10-17

Bank of Canada meets Wed. Look for a dovish hold. Foreigners continue to buy Canadian bonds and stocks. The EU-Canadian free-trade deal is facing challenges, with the most pressing one coming from Belgium.

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FX Weekly Preview: Four Key Events in the Week Ahead

2016-10-17

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2016-10-17

Escher Esque
Of the forces driving prices in the week ahead, events appear more important than economic reports.There are four such events that investors must navigate.The Bank of Canada and the European Central Bank meet. The UK High Court will deliver its ruling on the role of Parliament in Brexit.The rating agency DBRS updates its credit rating for Portugal.

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FX Daily, October 12: May Concedes to Parliament, Sterling Rises after Pounding

2016-10-12

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2016-10-12

FX Performance, October 12 2016 Movers and Shakers
News that UK Prime Minister May has accepted that Parliament should vote on her plan for exiting the EU stopped sterling's headlong slide. Sterling had been pounded for roughly 8.5 cents since the start of the month including the last four sessions. The idea that parliament, where the Conservatives enjoy a slim majority, is less enthusiastic about Brexit may mean a less acrimonious divorce.

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US and Canada Jobs: Sill Strong Enough for a Rate Hike

2016-10-07

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2016-10-07

The US grew 156k jobs in August, missing the median estimate by about 16k. The July series was revised up by 16k. The unemployment and participate rate ticked up 0.1% to 5.0% and 62.9% respectively. Hourly earnings rose 0.2% to lift the year-over-year rate to 2.6% from 2.4%. The average work week increased to 34.4 hours from 34.3.

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Canadian Dollar: A Little Less About Oil, a Little More about Rates

2016-10-06

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2016-10-06

Canadian Dollar and Oil
The Canadian dollar's link to oil has loosened. Its sensitivity to interest rates has increased. Lumber issue is coming to a head shortly.

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FX Daily, September 30: SNB Intervenes to Polish Q3 Results

2016-09-30

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2016-09-30

FX Performance, September 30 2016 Movers and Shakers
True to its recent habit, the US dollar is finishing the week on a firm note. On the month, though, the greenback has fallen against most of the majors, but sterling, the Canadian dollar, and the Swedish krona. Global equities are trading heavily, and investors' angst is lending support to bond markets.

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FX Daily, September 29: Dollar Quietly Bid, while Market is Skeptical of OPEC Deal

2016-09-29

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2016-09-29

FX performance, September 29 Movers and Shakers
The US dollar has firmer against most major and emerging market currencies. It remains well within its well-worn ranges, which continue to be narrow. A notable exception today is the yen's weakness. While the majors are mostly off marginally and now more than 0.3%, the yen is 0.75% lower. That puts the greenback at a six-day high (~JPY101.75) at its best.

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FX Daily, September 26: Dollar Mixed while Stocks Slide to Begin Last Week of Q3

2016-09-26

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2016-09-26

FX Performance September 26, 2016 Movers and Shakers
The US dollar is narrowly mixed. The euro, yen and Swiss franc are higher, while the dollar-bloc and sterling are softer. The moving element here is not so much the greenback, which serving more as a fulcrum, but idiosyncratic, country-level developments.

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FX Daily, September 23: It is Friday and the Dollar is Firmer Again

2016-09-23

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2016-09-23

FX Performance September 23, 2016 Dukascopy Movers and Shakers
As Nassim Taleb instructed, we should not be fooled by randomness. If you see six red results in a row at a roulette table, do not conclude the game is rigged. If you flip a coin, and it is tails six consecutive times, the contest is not necessarily rigged.

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