Daily Forex Commentary

22 July 2014 - US CPI is Soft

By Calvin Kuk
US Dollar vs Canadian Dollar: June US CPI is the main event for the North American trading day and the core release was a bit softer than anticipated dropping from 0.3 to 0.1%. The... read more

21 July 2014 - Theme: Caution

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD continue to trade comfortably either side of 1.0750 with support at 1.0720 and resistance at 1.0780 holding firm for the time being. The positi... read more

18 July 2014 - Canadian Wholesale Sales Hit New Record

By Calvin Kuk
US Dollar vs Canadian Dollar: We observed some softness in the Loonie overnight as “risk aversion’ on the tragic news of the downing of a Malaysian passenger jet over U... read more

17 July 2014 - "Sell the Rumour, Buy the Fact"

By Calvin Kuk
US Dollar vs Canadian Dollar: Yesterday’s market reaction to BOC interest rate announcement, MPR and Press conference was a prime case of “sell the rumour, buy the fact... read more

16 July 2014 - Gov Poloz''s Press Conference at 11:15 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The focus for us will be Governor Poloz’s press conference at 11:15 following the Rate Statement and Monetary Policy Report at 10:00. There will... read more

15 July 2014 - Yellen''s Testimony at 10:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: US Core Retail Sales were just released lower than the anticipated 0.5% at 0.4% while Empire State Manufacturing Index rose to 25.6 from 19.3. Reactio... read more

14 July 2014 - USDCAD trading at 1.0734

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie gave up significant ground on Friday following the dismal Employment data and now sits comfortably within striking distance of the next lev... read more

11 July 2014 - Canadian Employment Data Disappoints

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Employment Change was a big miss at -9.4K and the Unemployment Rate moved higher to 7.1% from 7.0% and we have seen a selloff in the CAD. USD... read more

10 July 2014 - USDCAD Still Trading on a Tight Range

By Calvin Kuk
US Dollar vs Canadian Dollar: The rising concerns about Global Q2 Growth will limit the Loonie to its current range today and runs the risk of challenging the 1.0700 level. The opt... read more

09 July 2014 - FOMC Meeting at 14:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: The main event today is the release of the latest FOMC minutes and the potential for a slightly more hawkish tone to be highlighted by the hawkish boa... read more

08 July 2014 - Hawk + Dove Fed Members Speak

By Calvin Kuk
US Dollar vs Canadian Dollar: Yesterday’s weaker than expected Ivey PMI and Bank of Canada Outlook Survey had the Loonie under pressure throughout the day yet we remain at th... read more

07 July 2014 - Positive Canadian Building Permits

By Calvin Kuk
US Dollar vs Canadian Dollar: Canadian Building permits m/m jumped huge, with this release expectation was 3.1% and the headline number was 13.8%, needless to say future constructi... read more

04 July 2014 - Quiet Day with US on Holiday

By Calvin Kuk
US Dollar vs Canadian Dollar: US markets are closed for 4th of July and the celebrations of independence can hardly be heard from the high fiving and cheering by traders on Wall St... read more

03 July 2014 - Positive US Data this Morning

By Calvin Kuk
US Dollar vs Canadian Dollar: Great morning for the US! US Non-Farm Employment Change printed at 288K, above the expected 214K and pushed the Unemployment Rate lower to 6.1% from t... read more

02 July 2014 - Chair Yellen Speaks at 11:00 EST

By Calvin Kuk
US Dollar vs Canadian Dollar: ADP Non-Farm Employment Change was out at 8:15 am this morning and the expectation was 207K and the release number was 281K, which is not a large effe... read more

30 June 2014 - GDP Short of Expecations

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie has weakened off from Friday’s high and currently trading at 1.0692. GDP figures released short of expectations and CAD lost around 2... read more

27 June 2014 - Loonie Touched New High Overnight

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie touched a new high during the Asian trading session which highlights a 5% recovery since touching 1.1275 in March. Yesterday’s drive ... read more

26 June 2014 - CAD is on the Run

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD has taken it’s first run at 1.0708 this morning and was rejected as we now hover at 1.0716. Neart term USD weakness may allow for this le... read more

25 June 2014 - USD/CAD Expected Range 1.4575 - 1.4670

By Calvin Kuk
US Dollar vs Canadian Dollar: USDCAD continues to hover between 1.0730 and 1.0750 ever so close to support at 1.0708 which represents the 50% Fibo retracement of the June 2013 to M... read more

24 June 2014 - Loonie in a Narrow 20 point Range

By Calvin Kuk
US Dollar vs Canadian Dollar: The Loonie remained in a narrow 20 point range overnight as we continue to hold onto gains from Friday. I believe a portion of the spike in oil has no... read more

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